The Dictionary
5-5 The Dictionary
In this Schedule:
adequate and appropriate fidelity insurance has a meaning affected by subsection 25‑1(2).
adequate and appropriate professional indemnity insurance has a meaning affected by subsection 25‑1(2).
administration account: see section 65‑5.
annual administration return means the return required to be lodged under subsection 70‑5(2).
annual trustee return means the return required to be lodged under subsection 30‑1(1).
committee of inspection for a regulated debtor’s estate means a committee appointed under sections 80‑10 to 80‑25 in relation to the administration of the estate.
creditor, when used in relation to a regulated debtor’s estate, means a creditor of the estate.
current conditions: see section 5‑10.
end of an administration of a regulated debtor’s estate means:
in the case of a bankruptcy—the day on which the bankrupt is discharged or the bankruptcy is annulled, whichever happens first; and
in the case of an administration under Part X—the day 3 years after the day on which a personal insolvency agreement made by the debtor for the administration of the debtor’s estate took effect; and
in the case of an administration under Part XI—the day 3 years after the day on which the administration is taken to have commenced under section 247A.
financial interest: a person has a financial interest in the administration of a regulated debtor’s estate in the circumstances set out in section 5‑30.
GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999.
Insolvency Practice Rules means the rules made by the Minister under section 105‑1.
Insolvency Practice Schedule (Corporations) means Schedule 2 to the Corporations Act 2001, and includes rules made under section 105‑1 of that Schedule.
March quarter means the period of 3 months beginning on 1 January.
maximum default amount for a trustee of a regulated debtor’s estate: see section 60‑15.
notified estate charge: see subsection 20‑75(7).
prescribed means prescribed by the Insolvency Practice Rules.
registered trustee means an individual who is registered as a trustee under Part 2 of this Schedule.
Register of Trustees means the register established and maintained by the Inspector‑General under section 15‑1.
regulated debtor: see section 5‑15.
regulated debtor’s estate: see section 5‑16.
remuneration determination, for a trustee of a regulated debtor’s estate, means a determination made:
under section 60‑10 or 60‑11 in relation to the trustee; and
in accordance with section 60‑12.
this Schedule includes the Insolvency Practice Rules.
trustee of a regulated debtor’s estate: see section 5‑20 and 5‑25.
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