Important updates for registered trustees
We have updated temporary general guidelines for practitioners in relation to COVID-19 and its effect on our stakeholders.
In this section, you will find guidance and direction on meeting your ongoing obligations as a personal insolvency practitioner within our regulatory framework. This information includes links to relevant pages and more details available in the Inspector-General Practice Statements (IGPS) and Inspector-General Practice Directions (IGPD).
Ongoing obligations and standards
You are expected to comply with obligations under the Bankruptcy Act, Bankruptcy Regulations and Insolvency Practice Rules.
Advertising meetings of creditors
Find out how to meet your obligations to publish notice of the first meeting of creditors convened pursuant to section 73 or section 188 of the Bankruptcy Act.
Alleged offences and tip-offs
You have a duty to refer alleged offences under the Bankruptcy Act. Find out how to refer alleged offences to AFSA’s Enforcement team, make an anonymous tip off or make a pre-referral enquiry.
For more details about types of offences and reporting obligations.
See the Guidance video: Referring alleged offences [YouTube]
Lodging your annual administration return (AAR)
Find out about the Inspector-General in Bankruptcy’s expectations on effective communication with bankrupts, creditors, debtors and other stakeholders
Realisation charge and payments
Find out more about trustees’ obligations to collect realisation and interest charges on funds received into an estate.
Forwarding unclaimed moneys (s254) to AFSA
For more details about making an EFT payment for s254 unclaimed moneys, see claim unclaimed money.
If you have any questions, please contact our Finance team at Accounts.Receivable@afsa.gov.au
Cancelling your registration
We will take action to cancel the registration of a trustee on a voluntary basis or on an involuntary basis if there are sufficient grounds to justify the removal of a trustee from the insolvency profession.