March quarter 2018
|[?] approved||[?] finalised|
|[?] finalised||[?] attended by AFSA|
During the quarter, we approved 2 applications for individuals to become a registered trustee[?]. One application is pending a decision.
One trustee was subject to disciplinary proceedings.
Four trustees resigned/retired or were deregistered during the quarter.
Find more information about registration of trustees in Inspector-General Practice Statement 13.
Debt agreement administrators
During the quarter, there was no registration activity for debt agreement administrators[?].
Find more information about registration of debt agreement administrators in Inspector-General Practice Statement 4.
The errors most commonly found during inspections were:
- property, income and asset errors (24)
- failure to meet performance standards (20)
- failure to maintain proper records (16).
Find more information about our inspection program in Inspector-General Practice Statement 11.
Complaints against practitioners
During the quarter, 38 complaints were finalised. Of these, 5 were found to be justified.
The most common complaints made were:
- decisions concerning assets (8)
- general administration & accounting (8).
The justified complaints made were:
- delays in administration or lack of action (2)
- lack of information or communication (1)
- decisions concerning assets (1)
- creditor claims & dividends (1).
Find more information about our complaint handling process in Inspector-General Practice Statement 10.
During the quarter, we finalised 35 applications for review by the Inspector-General in Bankruptcy of trustee decisions. Of these, 2 trustee decisions were overturned1.
The decisions overturned were:
- income assessment of a bankrupt varied (1)
- objection to discharge of a bankrupt cancelled (1).
Find more information about reviews of trustee decisions in Inspector-General Practice Statement 12.
1 Overturned includes all decisions that were cancelled or varied.
Attending meetings of creditors
During the quarter, we intervened at, or prior to, 12 meetings of creditors.
The most common reasons for intervening were:
- further investigations needing to be undertaken (6)
- to provide guidance to the trustee (2)
- to address procedural deficiencies (2).
Please note, these are preliminary results for the quarter and due to the timing of the completion of matters may be subject to change—particularly when considered in the context of annual results.