1-1
In forceObject of this Schedule
Schedule 2Insolvency Practice Schedule (Bankruptcy)
Part 1Introduction
Division 1Introduction
1-1 Object of this Schedule
(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.
(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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