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

Schedule 3   Registered debt agreement administrators

Part 5   Trust accounts

Bankruptcy Act 1966

26   After subsection 186LA(1)

Insert:

(1A) This section also applies to a bank if:

(a) the Inspector-General believes on reasonable grounds that:

(i) a person who is or was an administrator of a debt agreement holds or held an account with the bank; and

(ii) the account was kept, or purportedly kept, in compliance with subsection 185LD(1); and

(b) the Inspector-General reasonably suspects that, in connection with the account, the person has:

(i) contravened a provision of this Act; or

(ii) failed to properly carry out the duties of an administrator in relation to the debt agreement; or

(iii) contravened a condition of the person's registration as a registered debt agreement administrator.