Section 305 of the Bankruptcy Act allows the Commonwealth to underwrite the cost of proceedings or enquiries about the estate or the examinable affairs of a bankrupt or personal insolvency agreement debtor. Further information on this is available in our guide.
The number of applications approved for Commonwealth funding assistance increased from 18 applications in 2013–14 to 21 in 2014–15. The funding also increased in 2014–15 compared to 2013–14:
- the amount underwritten increased from $42,736 to $175,766
- expenditure increased from $13,277 to $39,066.
|Number of applications received||20||27|
|Number of applications approved*||18||21|
|Amount underwritten ($)||$42,736||$175,766|
*These figures include all applications approved in the financial year, irrespective of whether they were lodged in that year.