Registration as a Debt Agreement Administrator - Australian Government

Description

You will require this registration if you intend to operate as a debt agreement administrator in Australia. A debt agreement administrator assists debtors with information and prepares debt agreement proposals and administers debt agreements.

There are two different kinds of administrators:

  • Individuals - one person is acting alone as an administrator or will have overall responsibility fro managing a company's debt agreement activities
  • Company - responsibility is held by the company rather than specific people for managing the debt agreement.

If you are a registered trustee and intend to act as an administrator in your own name you will not need separate registration.

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:

  • have completed the mandatory qualifications detailed in the Bankruptcy regulations 1996;
  • attach a criminal database search for the applicant or in the name of the company applicant and each individual that is a director for the company applicant. If applicable, a search from any country outside Australia where the applicant has resided for at least one year in the last ten years;
  • submit written evidence of adequate and appropriate professional indemnity and fidelity insurance;
  • submit two referee reports attesting that you (and all directors of any company applicant) are a fit and proper person;
  • demonstrate that you have the ability, including the knowledge, to immediately perform satisfactorily the duties of a debt agreement administrator;
  • comply with the obligations as set out in the legislation; and
  • submit the prescribed applicant fee.

Both individuals and companies may apply.

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

Duration

Three years.

Fees

Fees Details for this service in table format.

Task Type Business Structure Amount Description
Apply Application All $2200.00

Application for registration.

Apply Licence All $1300.00

Initial registration (3 years).

Renew Renewal All $1700.00 -

Act(s) name

Bankruptcy Act 1966 Australian Government

Regulation(s) name

Bankruptcy Regulations 1996 Australian Government

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.

Please use these contact details for help or more information:

Regulation Practitioner Officer, Regulation and Enforcement

Australian Financial Security Authority

Phone: 1300 364 785
Fax: 07 3360 5402
Email: rpor@afsa.gov.au