Bankruptcy Regulations 2021

PART 8 - TRUSTEES  

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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