53
In forceNotice of finalisation of administration
Part 8Trustees
Division 3Registered trustee ceasing to be trustee of an estate
53 Notice of finalisation of administration
(1)
If the trustee of a regulated debtor’s estate (other than the Official Trustee) finalises the administration of the debtor’s estate, the trustee must:
(a)
give the Official Receiver written notice of the finalisation; and
(b)
do so within 5 business days after the day of the finalisation.
Offence
(2)
A person commits an offence if:
(a)
the person is required to give notice in accordance with subsection (1); and
(b)
the person fails to comply with the requirement.
Penalty: 1 penalty unit.
(3)
An offence against subsection (2) is an offence of strict liability.
This Act’s bill:Explanatory statement
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