Simplified outline of this Part
55-1 Simplified outline of this Part
This Part sets out requirements for conducting the administration of a regulated debtor’s estate.
The main provisions deal with:
the remuneration of the trustee; and
the duties of the trustee in handling the money and other property of the estate; and
conflicts of interest; and
the duties of the trustee to keep appropriate records, to report to the Inspector‑General and to give information, documents and reports to creditors and others; and
creditor meetings; and
the creation and conduct of a committee to monitor the administration (called a committee of inspection); and
the rights of creditors to review the administration; and
the rights of creditors to remove the trustee and appoint another; and
the review of the administration by the Court.
There are additional rules that apply to the administration of a regulated debtor’s estate (for example, about appointment of the trustee) in this Act.
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