Bankruptcy Amendment (Debt Agreement Reform) Act 2018 (118 of 2018)

Schedule 3   Registered debt agreement administrators

Part 1   Applications for registration

Bankruptcy Act 1966

12   After paragraph 186C(4)(d)

Insert:

(e) the applicant has produced evidence in writing to the Inspector-General that the applicant has taken out:

(i) adequate and appropriate professional indemnity insurance; and

(ii) adequate and appropriate fidelity insurance;

against the liabilities that the applicant may incur working as a registered debt agreement administrator; and

(f) the applicant is a fit and proper person; and

(g) each director of the company is a fit and proper person.