Bankruptcy Act 1966

On application under section 20‑70, the Inspector‑General must renew the registration of the applicant as a trustee if:

the application is properly made; and

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 has complied with any condition dealing with continuing professional education to which the applicant is subject during the applicant’s current registration; and

the applicant has paid the renewal fee determined by the Minister under subsection 20‑70(3), and any late payment penalty under that subsection; and

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

The Inspector‑General renews the registration of the applicant by entering, or maintaining, on the Register of Trustees the details relating to the applicant prescribed for the purposes of subsection 15‑1(3).

The renewed registration is subject to the current conditions imposed on the registered trustee.

After renewing the registration of a person as a trustee, the Inspector‑General must give the person a certificate of registration.

The certificate may be given electronically.

The renewed registration has effect for 3 years, beginning on the day after the person’s immediately preceding registration as a trustee ceased to have effect.

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 one month and 10 business days before the person’s registration as a trustee ceases to have effect.