Changes to bankruptcy regulations and insolvency practice rules

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On 6 April 2022, the Attorney-General’s Department announced changes to both the Bankruptcy Regulations 2021 and the Insolvency Practice Rules 2016.

The changes are reflected in the following legislative instruments that have been registered and named to reflect the year of commencement (2022):

  • Bankruptcy Amendment (Service of Documents) Regulations 2022
  • Insolvency Practice (Bankruptcy) Amendment Rules 2022.

Details about the changes and commencement dates are outlined below.

Bankruptcy Amendment (service of documents) Regulations 2022

Changes have been made to section 102 of the regulations which covers service of documents. The change now ensures documents required or permitted by the Act or the Regulations to be given, sent to, or served on a person can be sent electronically without the need for prior consent from the recipient.

This change is effective immediately.

For more information, visit legislation.gov.au

Insolvency Practice (Bankruptcy) Amendment Rules 2022

There have been 22 amendments made to the rules which include:

  • making trustee registration requirements more flexible
  • introducing more efficiencies, transparency and certainty to creditor meetings
  • ensuring the rules are consistent with similar provisions in the Insolvency Practice Rules (Corporations) 2016.

The rules begin on 5 July 2022.

For more information, visit legislation.gov.au