business.gov.au

Registration as a Trustee - Australian Government

Description

You will require this registration if you intend to have control of the administration of bankruptcies, personal insolvency agreements or debt agreements. 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.

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:

  • complete a Form 10 - Application for registration as a trustee
  • have engaged in at least 4,000 hours of relevant employment at a senior level in the preceding five years
  • provide two referee reports attesting to your current knowledge and ability, dated no more than 3 months prior to the date of application
  • provide two referee reports attesting to you being a fit and proper person in business who displays honesty, integrity, diligence, judgment, and good character (the referees used may be the same as those attesting to current knowledge and ability)
  • have a current National Police Certificate
  • have an overseas police check from any country where you have been a resident for at least one year in the last 10 years

Prerequisites

Must Have

Australian Federal Police Certificate

Duration

3 years

Fees

Fees Details for this service in table format.

Task Type Business Structure Amount Description
Apply Application All $2200.00

Application for registration. Fees for 2024-25
Apply Licence All $1300.00

Initial registration (3 years). Fees for 2024-25
Renew Renewal All $1700.00

Fees for 2024-25

Act(s) name

Bankruptcy Act 1966 Australian Government

Regulation(s) name

Bankruptcy Regulations 2021 Australian Government

Approval time

The committee is required to make a decision within 45 business days after interviewing you

Administering agency

Australian Financial Security Authority

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.