Bankruptcy Act 1966

For the purposes of considering an application made under section 186B, the Inspector‑General must interview the applicant as soon as practicable after receiving the application.

Within 45 business days after interviewing the applicant, the Inspector‑General must:

approve the application; or

refuse to approve the application.

If:

the applicant is an individual; and

the application is not by way of renewal;

passes the basic eligibility test; and

has the ability (including the knowledge) to satisfactorily perform the duties of an administrator in relation to debt agreements; and

has such qualifications and experience (if any) as are prescribed by the regulations; and

has produced evidence in writing to the Inspector‑General that the applicant has taken out:

adequate and appropriate professional indemnity insurance; and

adequate and appropriate fidelity insurance;

is a fit and proper person.

If:

the applicant is an individual; and

the application is by way of renewal;

has produced evidence in writing to the Inspector‑General that the applicant maintains:

adequate and appropriate professional indemnity insurance; and

adequate and appropriate fidelity insurance;

does not owe more than the prescribed amount of notified estate charges.

For notified estate charge, see subsection (5A).

If:

the applicant is a company; and

the application is not by way of renewal;

the applicant passes the basic eligibility test; and

the applicant has the ability to satisfactorily perform the duties of an administrator in relation to debt agreements; and

the applicant has produced evidence in writing to the Inspector‑General that the applicant has taken out:

adequate and appropriate professional indemnity insurance; and

adequate and appropriate fidelity insurance;

the applicant is a fit and proper person; and

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

If:

the applicant is a company; and

the application is by way of renewal;

the applicant has produced evidence in writing to the Inspector‑General that the applicant maintains:

adequate and appropriate professional indemnity insurance; and

adequate and appropriate fidelity insurance;

the applicant does not owe more than the prescribed amount of notified estate charges.

For notified estate charge, see subsection (5A).

A person owes a notified estate charge if:

the person owes either of the following:

a charge under the Bankruptcy (Estate Charges) Act 1997 (the estate charge);

a penalty under section 281 (late payment penalty) of this Act in respect of that charge; and

the Inspector‑General notified the person of the unpaid estate charge at least 1 month and 10 business days before the person’s registration as a debt agreement administrator ceases to be in force.

In deciding whether to approve an application made under section 186B, the Inspector‑General must have regard to any relevant guidelines in force under section 186Q.

If the Inspector‑General refuses to approve an application made under section 186B, the Inspector‑General must give the applicant a written notice of the refusal, and the reasons for it.

If the Inspector‑General decides to refuse to approve an application made under section 186B, the applicant may apply to the Administrative Review Tribunal for review of the decision.

If the Inspector‑General approves an application under section 186B, the Inspector‑General may decide that, if the applicant is registered as a debt agreement administrator under section 186D, the applicant’s registration as a debt agreement administrator is subject to specified conditions.

If the Inspector‑General makes a decision under subsection (9), the Inspector‑General must give the applicant a written notice of the decision and the reasons for it.

If the Inspector‑General makes a decision under subsection (9), the applicant may apply to the Administrative Review Tribunal for review of the decision.

In subsection (11):