Bankruptcy Trustee Registration - Australian Government

Service summary

You will require this registration if you intend to act as a bankruptcy trustee and administer the estates of bankrupts and other insolvent debtors. This involves providing services such as:

  • Selling property;
  • Notifying the bankrupt's creditors of the bankruptcy;
  • Investigating the disposition of property;
  • Determining the sums owing to creditors;
  • Holding creditors' meetings;
  • Reporting to creditors;
  • Distributing dividends to creditors; and
  • Referring alleged offences under the legislation to the appropriate authority.

Trustees are required to comply with the specified Performance Standards for Trustees.

Please consult the Contact Officer for more information.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this registration you must:

  • Submit a statement setting out your experience, knowledge and abilities. You are required to have been engaged in relevant employment on a full-time basis for a total of not less than 2 years in the preceding 5 years;
  • Submit an original certificate (or certified copy) demonstrating that you have completed the academic requirements for the award of a degree, diploma or similar qualification from an Australian university or college of equivalent standard that includes an Accounting and Commerical Law course;
  • Submit two referee reports attesting to your current knowledge and ability;
  • Satisfy the Agency that you are suitable to be registered as a trustee;
  • Lodge the application on the prescribed form; and
  • Submit the prescribed application fee.

Please consult the Contact Officer for more information regarding eligibility requirements.

Duration

3 years.

Fees

 TypeDescription
ApplyApplication

$2 200

Licence

Registration for first 3 years: $1 300.

RenewRenewal

$1 700

Administering agency

Australian Financial Security Authority
Regulation and Enforcement

Act(s) name

Bankruptcy Act 1966 (Australian Government)

Regulation(s) name

Bankruptcy Regulations 1996 (Australian Government)

Contact details

Enquiries
Australian Financial Security Authority
Regulation and Enforcement


Mailing address:
GPO BOX 821
Canberra, Australian Capital Territory 2601

Phone:

1300364785

Supporting information

Disclaimer

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