Bankruptcy Regulations 2021 (Cth)

Bankruptcy Regulations 2021

made under the

Bankruptcy Act 1966

Compilation No. 4

Compilation date: 17 December 2024

Includes amendments: F2024L01678

About this compilation

This compilation

This is a compilation of the Bankruptcy Regulations 2021 that shows the text of the law as amended and in force on 17 December 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents Part 1—Preliminary 1 Name 3 Authority 4 Definitions Part 2—Administration 5 Disclosure of information by Inspector‑General 6 Prescribed rate of interest on money held in Common Fund Part 3—Courts 7 Prescribed countries Part 4—Proceedings in connection with bankruptcy Division 1—Bankruptcy notices 8 Application for bankruptcy notice 9 Form of bankruptcy notice 10 Service of bankruptcy notice 10A Prescribed statutory minimum 11 Inspection of bankruptcy notice 12 Judgment or order in foreign currency Division 2—Petitions 13 Copy of petition, and certain orders, to be given to Official Receiver 14 Control of debtor's property before sequestration 15 Preliminary remuneration and expenses of trustee 16 Application for damages where petition dismissed 17 Prescribed modifications of applied provisions 18 Acceptance of debtor's declaration 19 Prescribed information to be supplied by Official Receiver to debtor 20 Presentation of debtor's petition 21 Debtor's petition—filing of trustee's consent 22 Notice to partners of referral to Court of petition by other partners against the partnership Part 5—Control over person and property of debtors and bankrupts 23 Arrest of debtor or bankrupt Part 6—Administration of property Division 1—Proof of debts 24 Proof of debt in foreign currency Division 2—Order of payment of debts 25 Priority payments—order of payment of certain costs, charges, expenses and remuneration 26 Maximum amount payable to employee Division 3—Property available for payment of debts 27 Household property that is not available for payment of debts 28 Personal property with sentimental value that is not available for payment of debts 29 Tools that are not available for payment of debts 30 Motor vehicles that are not available for payment of debts Division 4—Undervalued transactions 31 Transfers exempt from being void against trustee Division 5—Realisation of property 32 Disclaimer of onerous property Division 6—Definition of income 33 Fringe benefits—modification of the FBTA Act 34 Superannuation contributions 35 Family assistance and social security payments Division 7—Contributions by bankrupt 36 Contribution assessment—income of dependant 37 Contributions by bankrupt—modes of payment 38 Contributions where bankrupt dies 39 Discharged bankrupt to give information if contribution unpaid Division 8—Collection of money or property by Official Receiver from person other than the bankrupt 40 Notice under section 139ZL of the Act not to refer to protected money 41 Notice under section 139ZL of the Act (notice of ceasing or commencing employment) Division 9—Distribution of property 42 Minimum amount of dividend 43 Manner of declaring final dividend Part 7—Discharge and annulment 44 Trustee to inform Official Receiver of return of bankrupt to Australia 45 Grounds of objection—failure to provide complete and accurate information 46 Inspector‑General to inform Official Receiver of ART decision about Inspector‑General's decision Part 8—Trustees Division 1—Consent to act, and appointment, as trustee of estate 47 Filing consent to act as trustee with the Official Receiver 48 Certificate of appointment under subsection 156A(3) of the Act Division 2—Controlling trustees other than Official Trustee or registered trustees 49 Ineligibility of certain persons to act as controlling trustee 50 Review by Tribunal of determination 51 Official Trustee to perform duties of controlling trustee Division 3—Registered trustee ceasing to be trustee of an estate 52 Notice of removal of trustee of estate 53 Notice of finalisation of administration Part 9—Debt agreements 54 Prescribed information to be supplied to debtor 55 Presentation of debt agreement proposal 56 Qualifications for approval of application to be registered as debt agreement administrator 57 Prescribed amount of owed notified estate charges preventing renewal of registration as debt agreement administrator Part 10—Personal insolvency agreements 58 Modifications of Part X of the Act—joint debtors 59 Information to be given to debtor about personal insolvency agreements 60 Signing authority by another person on behalf of debtor 61 Documents under section 188 of the Act 62 Controlling trustee to give Official Receiver copy of special resolution and certain particulars 63 Modifications of Part VIII of the Act—controlling trustees and trustees of personal insolvency agreements 64 Modifications of Division 1 of Part V of the Act—debtors whose property is subject to control under Division 2 of Part X of the Act 65 Notification of personal insolvency agreement 66 Information to be given to Official Receiver in relation to certain sequestration orders 67 Information to be given to Official Receiver in relation to orders terminating or setting aside a personal insolvency agreement 68 Termination of personal insolvency agreement by trustee 69 Modifications of Parts V and VI of the Act—personal insolvency agreements 70 Certificate relating to realisation of divisible property and non‑availability of dividend Part 11—Administration of estates of deceased persons in bankruptcy 71 Modifications of the Act—administration of estates of deceased persons Part 12—Unclaimed dividends or money 72 Statement where money paid to the Commonwealth Part 13—National Personal Insolvency Index Division 1—General 73 Establishment and maintenance of the National Personal Insolvency Index 74 Information in the Index Division 2—Information to be entered in the Index 75 Documents that must be given to Official Receiver 76 Documents given to Official Receiver in accordance with the Act 77 Documents given to Official Receiver in accordance with this instrument 78 Information about specified events 79 Information about certain debtors Division 3—Information not to be entered in the Index and information to be removed from the Index 80 Application for information to be removed, corrected or not entered in the Index 81 Application to the Administrative Review Tribunal 82 Removal from the Index of information relating to debt agreement 83 Removal from the Index of information relating to debt agreement proposal Division 4—Other matters 84 Inspection of the Index 85 Information extracted from the Index to be evidence 86 Immunity from defamation Part 14—Offences under the Act Division 1—Arrest of person failing to attend before the Court etc. 87 Apprehension under a warrant—notification to Registrar in certain cases 88 Registrar to act on notification—direction to person executing warrant Division 2—Infringement notices 89 Purpose and operation of this Division 90 When an infringement notice may be given 91 Matters to be included in an infringement notice 92 Extension of time to pay amount 93 Withdrawal of an infringement notice 94 Effect of payment of amount 95 Evidentiary certificates 96 Effect of this Division Part 15—Provisions relating to the Bankruptcy (Estate Charges) Act 1997 97 Purpose of Part 98 Mode of payment 99 Overpayments to be refunded or offset 100 Information to accompany payment of interest charge 101 Information to accompany payment of realisations charge Part 16—Miscellaneous Division 1—Matters relating to documents 102 Service of documents 103 Documents for Inspector‑General, Official Receiver or Official Trustee 104 Proof of statement of affairs 105 Document filed by Inspector‑General or Official Receiver—fee not payable Division 2—Matters relating to fees 106 Payment of fees 107 Official Trustee's entitlement to interim remuneration 108 Reimbursement of Official Trustee for expenses 109 Fee for inspecting notes and transcript of evidence 110 Fee for making request for consent to leave Australia 111 Waiver or remission of fees by Inspector‑General 112 Review of decision of the Inspector‑General Division 3—Other matters 113 Inventory by trustee taking possession of, or attaching, property 114 Indexation Part 17—Application, saving and transitional provisions 115 Things done under the Bankruptcy Regulations 1996 116 Taxable value of car fringe benefits 117 Amendments made by the Bankruptcy Amendment (Electronic Service) Regulations 2024 Schedule 1—Forms Schedule 2—Modifications of the FBTA Act FBTA Act Schedule 3—Modifications in relation to Part X of the Act Part 1—Modifications of Part X of the Act—joint debtors Bankruptcy Act 1966 Part 2—Modifications of Part VIII of the Act—controlling trustees and trustees of personal insolvency agreements Bankruptcy Act 1966 Part 3—Modifications of Division 1 of Part V of the Act—debtors whose property is subject to control under Division 2 of Part X of the Act Bankruptcy Act 1966 Part 4—Modification under subsection 231(1) of the Act—personal insolvency agreements Bankruptcy Act 1966 Part 5—Modifications under subsection 231(3) of the Act—personal insolvency agreements Bankruptcy Act 1966 Schedule 4—Modifications under Part XI of the Act—administration of estates of deceased persons Bankruptcy Act 1966 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history