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
- referring alleged offences under the legislation to the appropriate authority.
Trustees are required to comply with the specified Standards for Trustees.