Bankruptcy Regulations 2021

If, on application, the Court makes an order under subsection 90‑15(1) of Schedule 2 to the Act that a person (the old trustee) cease to be the trustee of a regulated debtor’s estate, the applicant for the order must:

give a written notice to the Official Receiver that includes the following:

the name of the old trustee;

the fact that the Court has ordered the old trustee to cease to be the trustee of the estate;

if the order provides for another person to be appointed as the trustee of the estate—the name of that person;

the day on which the order takes effect; and

do so within 2 business days after the day the order is made.

However, subsection (1) does not apply if the applicant is the Inspector‑General.

If the creditors of a regulated debtor, by resolution at a meeting, remove the trustee (the old trustee) of the regulated debtor’s estate under paragraph 90‑35(1)(a) of Schedule 2 to the Act, the person appointed by the creditors under paragraph 90‑35(1)(b) of that Schedule as trustee of the estate must:

give a written notice to the Official Receiver that includes the following:

the name of the old trustee;

the fact that the creditors have removed the old trustee;

the day on which the removal takes effect; and

do so within 2 business days after the day of the person’s appointment.

However, subsection (3) does not apply if the person appointed is the Official Trustee.

A person commits an offence if:

the person is required to give notice in accordance with subsection (1) or (3); and

the person fails to comply with the requirement.

An offence against subsection (5) is an offence of strict liability.