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Official Receiver notices
Official Receiver notices help trustees to gather information or recover assets. The Official Receiver issued 905 notices in 2020–21. The most common type of notice is s. 139ZL payment of contribution liability (31% of total notices in 2020–21).
|
Section of the Bankruptcy Act |
Type of statutory notice |
Number of notices issued: 2019–20 |
Number of notices issued: 2020–21 |
|---|---|---|---|
|
s. 77AA |
Access by Official Receiver and others to premises |
4 |
4 |
|
s. 77C |
Obtain information and evidence |
238 |
276 |
|
s. 77CA |
Obtain statement of affairs |
325 |
275 |
|
s. 81A |
Offshore information notices |
1 |
5 |
|
s. 128E |
Freeze interest in super |
0 |
2 |
|
s. 139ZQ |
Notice requiring payment following void transaction |
81 |
59 |
|
s. 139ZL |
Payment of contribution liability |
208 |
279 |
|
s. 139ZR |
Charge over property |
9 |
5 |
|
Total |
|
866 |
905 |
Commonwealth funding assistance
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.
In 2020–21, there were 8 applications for Commonwealth funding assistance approved, with $37,023 underwritten.
|
|
2019–20 | 2020–21 |
|---|---|---|
|
Number of applications received |
21 |
22 |
|
Number of applications approved* |
20 |
8 |
|
Amount underwritten ($) |
$121,108 | $37,023 |
|
Expenditure ($) |
$46,534 | $43,506 |
* These figures include all applications approved in the financial year, irrespective of whether they were lodged in that year.