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 for 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.