Bankruptcy Act 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 1 - INTRODUCTION  

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Division 1 - Introduction  

SECTION 1-1   OBJECT OF THIS SCHEDULE  

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1-1(1)    
The object of this Schedule is to ensure that any person registered as a trustee:

(a)    has an appropriate level of expertise; and

(b)    behaves ethically; and

(c)    maintains sufficient insurance to cover his or her liabilities in practising as a registered trustee.

1-1(2)    
The object of this Schedule is also:

(a)    to regulate the administration of regulated debtors ' estates consistently, unless there is a clear reason to treat a matter that arises in relation to a particular kind of estate differently; and

(b)    to regulate the administration of regulated debtors ' estates to give greater control to creditors.

 

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