The Debt Agreement law reform will go live on 27 June 2019. This reform will change some of the obligations and duties of practitioners.
We are releasing updated guidance documents to keep you informed of the changes. Being aware of the upcoming changes is important to ensure a smooth transition and shared understanding.
As most of the changes are based on the law reform, we will be limited in our ability to act on feedback. However, we would like you to have a look at the proposed changes and are open to feedback on any serious issues that you might identify.
Feedback has now closed. Updated guidance documents that have previously been released for feedback.
- Prescribed Information
- ORPS 11 Debt Agreements
- ORPS10 Refunds of unclaimed moneys under section 254 of the Bankruptcy Act
- IGPG 1 Advertising
- IGPD 1 Independence of personal insolvency practitioners
- IGPS 4 Process for Registration of Debt Agreement Administrators
- IGPS 7 Annual Administration Returns
- IGPS 8 Involuntary Cancellation of Trustee Registration
- IGPS 9 Involuntary Cancellation of Debt Agreement Administrator Registration
- IGPS 10 Complaints Handling
- IGPD 10 Treatment of Secured Creditors in a Part IX Debt Agreement
- IGPS 11 Monitoring and Inspection of Bankruptcy Trustees and Debt Agreement Administrators
- IGPD 13 Certification
- IGPS 13 Processes for Registration of Registered Trustees
- IGPD 14 Proper Performance of Duties of Trustees
- IGPS 14 Referring Offences against the Bankruptcy Act 1966 to the Inspector-General
- IGPD 17 3 month arrears
- Guidelines Relating to the Registration and Cancellation of Registration of a Debt Agreement Administrator
NOTE: The draft for IGPD 13 has been prepared as part of AFSA's consultation process with stakeholders, and is in accordance with the last consultation paper issued by the Attorney-General's Department. We note that the payment to income ratio and low income debtor amount will be determined at a future date and will be a matter for the incoming Minister.
See Bankruptcy Amendment (Debt Agreement Reform) Act 2018 for more information.