The Personal Insolvency Regulator (PIR) is a quarterly newsletter from AFSA’s independent Regulation and Enforcement division.
AFSA shining a spotlight on untrustworthy advisors
AFSA has recently launched a campaign to raise awareness of dodgy insolvency advisors who exploit people when they seek help to manage debt. There is a concern that those experiencing financial stress because of the economic impact of COVID-19 may be easy targets. ...
Industry wide conditions for all registered debt agreement administrators
A reminder that new industry-wide conditions for all registered debt agreement administrators (DAAs) will begin on 1 January 2021, relating to: ...
Registration of Personal Insolvency Practitioners: FAQs December 2020
Over 2020–2021, AFSA will provide information to help guide prospective applicants through the process of applying for registration. FAQs are answered on our website and the page is regularly updated. Find out more. ...
AFSA practitioner survey findings
Thank you to everyone who participated in our recent survey of personal insolvency practitioners. ...
Practitioner fraud risk management
Whilst the unprecedented global crisis continues due to the COVID-19 pandemic, it remains important for all personal insolvency practitioners to continue to remain vigilant and ensure that their fraud risk management capabilities remain effective. ...
COVID-19 challenges and seeking advice for small business owners
Many businesses are experiencing financial stress due to the conditions created by the COVID-19 pandemic. Small business owners need to take action and properly manage financial and operational difficulties. ...
New Resources for Practitioners
As part of AFSA’s ongoing efforts to provide relevant guidance to personal insolvency practitioners, we have published a new Inspector-General guidance document Inspector-General Practice Statement 19: fit and proper requirements for personal insolvency practitioners. ...
Section 77C examinations now available by video conference
Insolvency practitioners have faced a number of challenges since the COVID-19 pandemic took hold earlier this year, in particular the ability to obtain evidence from people being made bankrupt and their associated entities to effectively administer bankrupt estates. ...
ATO Update: Interacting with the ATO
When interacting with the ATO, the ATO Business Portal is the preferred method. The portal is an electronic service available to insolvency practitioners and can be used to manage the tax affairs of incapacitated entities. This is the quickest way for the ATO to receive a notice and replies are sent via the portal. ...
Official Receiver Notices – Compliance Value
The Bankruptcy Act 1966 gives the Official Receiver particular powers in certain situations to help trustees administer bankrupt estates. These powers include the ability for the Official Receiver to issue notices to direct the production of books or information, access to premises and to recovery property and contribution liabilities. Recently, trustees are seeing the benefit and value of the Official Receiver’s powers in assisting with their duties under the Act and the benefits those powers bring to the insolvency system. ...