Bankruptcy Regulations 2021
Division 3 - Registered trustee ceasing to be trustee of an estate
SECTION 53 NOTICE OF FINALISATION OF ADMINISTRATION
53(1)
If the trustee of a regulated debtor
'
s estate (other than the Official Trustee) finalises the administration of the debtor
'
s estate, the trustee must:
(a) give the Official Receiver written notice of the finalisation; and
(b)
do so within 5 business days after the day of the finalisation.
Offence
53(2)
A person commits an offence if:
(a) the person is required to give notice in accordance with subsection (1); and
(b) the person fails to comply with the requirement.
Penalty: 1 penalty unit.
53(3)
An offence against subsection (2) is an offence of strict liability.
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