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July 2010 - Volume 8, Issue 2 [PDF] [View Online] Inspector-General’s Column ; a. Year in review; b. Bankruptcy Legislation Amendment Act (BLAA) 2010; c. Miscellaneous Bankruptcy Regulations Amendments; Regulatory Activity Summary – 2009-2010 ; Debt Agreement Practitioner’s Association & Bankruptcy Act Reform ; The Financial Counselling Perspective - AFCCRA; ATO provides debt seminars for Insolvency Practitioners; Assigning property to undischarged bankrupts ; Debt agreements – Reimbursement of bank fees; Debt Agreement Proposal Lodgement Fee; ASIC – Do you need an Australian Credit Licence?; Advertising Creditors Meetings – an update ; Ethics Committee Ruling – Conflict of Interest; 2009-10 – ITSA Cost Recovery Review; Annual Estate Return 2009/10 April 2010 - Volume 8, Issue 1 [PDF] [View Online] Inspector-General’s Column; a. RDAA Professional Development Day and Major Creditor Forum; b. Bankruptcy Law Amendment Bill (BLAB) 2009; Regulatory Activity Summary – 9 months to 31 March 2010; Debt Agreement Practitioner’s Association & Bankruptcy Reform; Controlling trustee applies for sequestration, and becomes trustee; A new Professional Standard for Insolvency Services; Assigning property to undischarged bankrupts; Section 254 of the Act and Unidentified Moneys; Trustee Information Sessions; ITSA Regulation Registrations Officers – Update; a. Professional Indemnity Insurance; b. RDAA Registration renewals; ITSA’s Enforcement Unit; Advertising Creditors Meetings – an update; Online Services for Trustees: Release 2; Release of IAIR Comparative Study; Trustees Seeking Directions from the Court; Meet the Regulation People; ITSA’s Resources December 2009 - Volume 7, Issue 4 [PDF] [View Online] Inspector-General’s Column; a.Looking back on 2009 and looking forward to 2010 and beyond; b. Personal Property Securities Register; Regulatory Activity Summary – July to September 2009; Securing Trust Account Cheques; A bankruptcy trustee’s powers and discretions, and the position of creditors; After-acquired Property; ATO Creditor claims in annulments; Trustee Information Sessions; ITSA Legal and Executive Support – Update; a.ATO policy on debt agreements and tax refunds; b. Meaning of “carrying on a business” for BECA purposes; ITSA’s Enforcement Unit – The Year That Was; Effect of Household Rental Increases; Online Services for Trustees: Status Update; Voting eligibility at Adjourned Meetings of Creditors; Reviewable Decisions – Supervised Account Regime - Section 139ZIE; Fees on proposals to vary a debt agreement September 2009 - Volume 7, Issue 3 [PDF] [View Online] Inspector-General’s Column;a.Proposed reforms;b.“Starting over after debt”;c.RDAA Professional Development Day ;Regulation Disciplinary Action ;Debt Agreement Practitioners Association (DAPA) ;Regulatory findings 2008-09 ;Online Services for Trustees: Status Update ;Inspector-General Practice Direction 11 – Objections to Discharge ;Trustee Information Sessions – November 2009 ;Introduction of Client Manager in Debt Agreement Service ;Section 254 – Unclaimed dividends ;Vale v Sutherland ;Filing documents with the Official Receiver in Part X ;Regulation people ;Statement of Affairs in Part XI estates ;Inspector-General Practice Direction 17 – Three months arrears default ;Bankruptcy Estate bank accounts and TFN exemption ;Debt Agreement Trust Account Reconciliation ;ATO creditor claims in annulments June 2009 - Volume 7, Issue 2 [PDF] [View Online] Inspector-General’s Column; ITSA’s New National Business Line Structure; RDAA Professional Development Day – 2 September 2009; Trustees and their lawyers – need for independence; APES 330 Insolvency Services Exposure Draft; Debt Agreement Practitioners Association (“DAPA”); IAIR Comparative Study on Insolvency Profession; Knowledge Management - Index of Personal Insolvency Regulator articles; Prosecution Statistics remain high; Changes to Forms; Consents to Act; Debtors Petition; Recovery of Superannuation Contributions; Family Tax Benefit and Bankruptcy; BR People; Trustee Information Sessions; Changes to ITSA NPII Search Service from 1 July 2009; Trustee On-line Services; RDAA Inspections – Multiple three months arrears default; Attending Meetings of Creditors; Annual Estate Returns for 2008/2009 Financial Year March 2009 - Volume 7, Issue 1 [PDF] [View Online] Inspector-General’s Column; Introduction; RDAA Professional Development Day – 4 March 2009; Policy Reforms; Why the Change in Name?; Going to the Third Umpire; BR – New People; Brett Hereward; Fabian Micheletto; Glen Pitt; To Object or not to Object; Debt Agreement Practitioners Association (“DAPA”); PACE; Trustee On-line Services; Dealing with a Partnership with no Solvent Partner; Part IX Major Creditor Forum – 10 March 2009; Registered Debt Agreement Administrator Qualifications; Trustee Information Sessions; Obtaining Statements of Affairs from bankrupts; Update by Legal and Executive Support Branch; Debt Agreements – the growing option for people with unmanageable debt; Government’s Stimulus Package; Advertising, marketing and promotion of Debt Agreement Administrators; Revesting of Property – Section 129AA; December 2008 - Volume 6, Issue 3 [PDF] [View Online] Inspector-General Column; New Inspector-General Practice Statements; Policy Reforms; ITSA hosted leading Personal Insolvency Congress; The IPA Code and bankruptcy trustees; Trustee borrowing funds on behalf of the estate from an associated entity; Practice issues – consistent application of the law; Snapshot – BFI 2008; Upcoming Bankruptcy Fraud Investigation Workshops; PACE Alerts; Applications for s305 assistance in bankruptcy when ATO is a creditor; BR People; Let the Official Receiver know when it’s time to let go; Same-Sex Reforms – Passage of the Government’s Same-Sex Law Reforms; ITSA’s Debt Agreement Service – now in Brisbane only; Joint property and section 110; Recent Case: Implied prohibition against sale of right to prosecute a proceeding to the bankrupt before discharge; Sequestration Order and cannot locate the bankrupt; PIAs – When can the debtor make another offer September 2008 - Volume 6, Issue 2 [PDF] [View Online] Inspector-General Column; Invitation to the 7th ITSA Bankruptcy Congress; New ITSA Practices and Policies webpage; Debt agreement research; Regulation findings Issues from the BR National Manager; Advertising, Marketing and promotion of debt agreement administrators; Debt Agreement Administrator Professional Development Day; Conflicts of Interest Revisited; Considerations in granting permission for overseas travel; Realisation charge when bankrupt pays creditors from vesting property; PIAs – When can the debtor make another offer; Statement of Affairs to be given to Official Receiver; Recovery of superannuation contributions: income tax implications; Update: Review of Trustee remuneration June 2008 - Volume 6, Issue 1 [PDF] [View Online] Inspector-General Column; Practice Direction - Payment of trustees remuneration by debtor or related third party; IPA Code –No Remuneration for Dealing with the Regulator; Proposed changes to the offences provisions; Trustee’s fiduciary duties; Committee Decision to Cancel Trustee’s Registration affirmed by AAT; Calculating 100c in $ when Realisation Charge rates change September 2007 - Volume 5, Issue 4 [PDF] [View Online] Inspector-General Column; Offences review; ITSA prosecutes record number of offenders following trustee complaints; The New Debt Agreement System; Former trustee found guilty of theft; Conflict of Interest - Trustee Voluntarily Cancels Registration; Trustee Prosecuted for Breach of Section 168; Debt Agreement Practice Guidance; Treatment of Secured Creditors in a Part IX Debt Agreement; Part X: Ensuring section 188 authorities are effective; Case Law: Maxwell-Smith v Donnelly - Enquiry pursuant to section 179 –Appeal; Pattison v Inspector General (and Ogilby) – Objection – proving intent; Trustees and the National Privacy Principles; How to Contact us May 2007 - Volume 5, Issue 3 [PDF] [View Online] Inspector-General Column; What constitutes an expense recoverable in a debt agreement by a DAA; Applying to be registered as a debt agreement administrator; Who can sign ss.185C(2D) certificate –New Part IX provision; BR’s error reporting system; BR program results and trends; Dispute Resolution outcomes; Part X - notification, advertising; Case Law; Historical BITA data now available; Update from ITSA’s Fraud Investigation Unit; How to Contact us December 2006 - Volume 5, Issue 2 [PDF] [View Online] Inspector-General Column; Draft Guidelines on how to Apply to be Registered as a Debt Agreement Administrator; Former Insolvency Manager Jailed for Theft; Issues in Personal Insolvency Agreements (Application of Sections 109 and 110, Voting by the separate classes of creditors); Case Law: Wenkart v- Pantzer and Brake v Townsend; Section 161B – RTs entitlement to minimum remuneration; Update from ITSA’s Fraud Investigation Unit (Review of Bankruptcy Offence Provisions, Port PACE Alerts, Search Warrants, ITSA’s Fraud Investigation outputs); Dealing with a partnership with at least one solvent partner (Dissolution of Partnership); Petitioning creditors costs fixed by Court and section 109; and How to Contact us May 2006 - Volume 5, Issue 1 [Word] [View Online] Inspector-General Column - Best practice in paying BECA charges, Invitation to the 6th ITSA Bankruptcy Congress, Making the Annual Estate Return easier, ITSA Regulation Branch Results, DAAs declared ineligible, Bankruptcy Regulation Amendments 2006, Case Law: Wenkart v- Pantzer [2005] FCA (8 November 2005), Importance of Trustees Practising and maintaining Knowledge, ATO ruling – GST: Entitlement to claim Refunds, Keeping the NPII up to date: Finalisation and end results for Administrations, Interest on interest bearing debts, Change in practice: Certificates of Appointment, Keeping BR Informed of changes, How to Contact us November 2005 - Volume 4, Issue 2 [Word] - [View Online] Inspector-General Practice Directions: Trustee Remuneration, Is the trustee a secured creditor for their remuneration under BECA? BECA- Maintaining evidence of Creditor Indemnity, Meeting rules, section 64ZBA and section 73, Client survey feedback, How BR “disciplines” trustees and DA administrators, Notification of files required for annual inspection, Trustee to inform the Official Receiver of cancellation of Objection, The latest ITSA Fraud Investigation Unit results, How to Contact us May 2005 - Volume 4, Issue 1 [Word] - [View Online] Inspector-General Column - Annual Reconciliation of Realisations and Interest Charge; Realisations Charge to Apply to Debt Agreements from 1 July 2006; DAA “Debtless” Declared Ineligible; Recent Disciplinary Committee Ruling; Case Law: Objection to Discharge – Special grounds; Use of Objections based on Special Grounds; A Consistent Approach to When Realisations Charge Applies; Bankruptcy Bits: Trustees obligation to Notify creditors and Bankrupts when claiming remuneration, GST ruling by ATO, Calculating Realisations Charge When a Surplus is Payable/Paid and Reconciliation of Accounts – Not Just a Standard but a Good Idea; The latest ITSA Fraud Investigation Unit results; How to Contact us December 2004 - Volume 3, Issue 2 [PDF] - [View Online] Inspector-General Column (Alleged theft and Frauds), New Regulation Practices, GST Registration and Refunds, Bankruptcy Bits (Taxation of Petitioning Creditor’s Costs (“PCC”)) (Professional Indemnity Levy not a charge on estate) (Period for Requesting Inspector-General review) (Section 161B Remuneration and the Realisation Charge) (Joint and Separate Estates – s110 and s141), An Update from ITSA's Fraud Investigation Unit, How to contact us June 2004 - Volume 3, Issue 1 [PDF] - [View Online] Inspector-General Directions (Realisations Charge and Indemnity for Remuneration) (Family Tax Benefit & Supplement and Maternity Payment), Part X - BLAB 2004 Update, Inspection & Complaints Findings 2003-04, Impact of s162 and 165 on Third Party Payments, Airport and Port Alerts - more care needed, Bankruptcy Prosecution Statistics, Prosecution News - Bankrupt Builder Jailed, Case Law - When Courts Won't Stop a Creditors Meeting, How to Contact us November 2003 - Volume 2, Issue 3 [PDF] - [View Online] Inspector-General Direction, Part X Review outcomes, BLAA changes to trustee re-registration, Company can vote in person without proxy, Bankruptcy prosecutions, Protocol for BR attending meetings, DAA Regulation activity, Improved error classification providing better feedback, New BR People, ITSA Congress, How to Contact us May 2003 - Volume 2, Issue 2 [PDF] - [View Online] Inspector-General Direction - Regulation 8.12, Section 155H Committees review trustee’s actions, New Part X provisions - Ineligibility of solicitor controlling trustees, Court agrees with IG and sets aside Part X, PINS update, BR now in Adelaide, Controlling Trustees Fees and Realisations & Interest Charge, New ITSA website, Bankruptcy Legislation Amendment Act assistance, Objections on “special grounds” and “reasonable excuse”?, ITSA Congress 2004 January 2003 - Volume 2, Issue 1 [PDF] BLAB to BLAA; Sticking PINS in the right place; Recent Case Law; S237A Certificates Deeds of Arrangements GST Refunds in Non Business Estates; Disciplinary Process; Administrative Appeals process. October 2002 - Volume 1, Issue 2 [PDF] Includes Part X review; recent case law - Booth vs Commonwealth; BR attendance at Part X meetings; RT Registration process; Tax refunds - Income or asset?; Reg 8.08 & GST. June 2002 - Volume 1, Issue 1 [PDF] Includes BLAB 2002 update; Part X Issues; New BR National Manager details; Requirements on Controlling Trustees - s189A; Recent Case Law incl What is a Quorum?; Realisations Charge and Inspection Issues; Bankruptcy Fraud News. The Inspector-General has from time to time issued a number of directions on a number of legal, procedural and technical matters. Up until June 2002, these were issued as separate one off notices. After June 2002 the Inspector-General directions were issued as part of Bankruptcy Regulation Branches registered trustees newsletter called The Bankruptcy Regulator. All directions are included in the list below with appropriate links to the Bankruptcy Regulator where appropriate. No 1 of 1996 [Word] [PDF] - Important notice for registered trustees - Proposed B(EC) Act No 2 of 1996 [Word] [PDF] - Changes resulting from Bills proposing a realisations charge as well as an interest charge No 1 of 1997 [Word] [PDF] - Bankruptcy (Estate Charges) Act 1997 and the Bankruptcy Amendment Act 1997 No 2 of 1997 [Word] [PDF] - Estate Charges No 1 of 1998 [Word] [PDF] - Calculation and payment of charges - reminder No 2 of 1998 [Word] [PDF] - Complaints Handling Procedures No 1 of 2000 [Word] [PDF] - Bankruptcy Regulation No 1 of 2001 [Word] [PDF] - Professional Indemnity Insurance for Trustees No 2 of 2001 [Word] [PDF] - Higher Education Contributions Scheme (HECS) debts Amendments to the Bankruptcy Act 1966 ***Superceded by the Higher Education Support Act 2003 which made consequential amendments to the Bankruptcy Act***
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