Ongoing obligations and standards for registered trustees

Ongoing obligations and standards

You are expected to comply with obligations under the Bankruptcy Act, Bankruptcy Regulations and Insolvency Practice Rules.

• Proper performance of duties of a bankruptcy trustee
• Controlling trustees’ roles and duties

Advertising meetings of creditors

Find out how to meet your obligations to publish notice of the first meeting of creditors convened pursuant to section 73 or section 188 of the Bankruptcy Act.

• See the Creditors meetings advertisements
• Setting up a personal insolvency agreement
• Lodging notice of a section 73 or Part X meeting with the Inspector-General in Bankruptcy for publication

Alleged offences and tip-offs

You have a duty to refer alleged offences under the Bankruptcy Act. Find out how to refer alleged offences to AFSA’s Enforcement team, make an anonymous tip off or make a pre-referral enquiry.

• Referring an offence
• Tip-offs

For more details about types of offences and reporting obligations.

• Referring offences
• Issuing of infringement notices by the Inspector-General in Bankruptcy

See the Guidance video: Referring alleged offences [YouTube]

Lodging your annual administration return (AAR)

• Annual administration returns
• Practitioner AAR online services support  information and user guides
• Login to Practitioner AAR online

Communication

Find out about the Inspector-General in Bankruptcy’s expectations on effective communication with bankrupts, creditors, debtors and other stakeholders

• Effective practitioner communication

Realisation charge and payments

Find out more about trustees’ obligations to collect realisation and interest charges on funds received into an estate.

• Realisations and interest charges
• Collection of realisations and interest charges 
• Unclaimed moneys
• Annual administration returns (AARs)

Remuneration

• Remuneration
• Remuneration entitlements of a registered bankruptcy trustee
• Trustee remuneration notifications

See the insolvency practitioner remuneration guidance video series.

Forwarding unclaimed moneys (s254) to AFSA

For more details about making an EFT payment for s254 unclaimed moneys, see claim unclaimed money.

If you have any questions, please contact our Finance team at Accounts.Receivable@afsa.gov.au

Cancelling your registration

We will take action to cancel the registration of a trustee on a voluntary basis or on an involuntary basis if there are sufficient grounds to justify the removal of a trustee from the insolvency profession.

• Involuntary cancellation of trustee registration

For more information

• Forms
• Practices