186GCondition of registration—companies

186G  Condition of registration—companies

 (1) This section applies to a company if the company is a registered debt agreement administrator.

 (2) It is a condition of the company’s registration as a debt agreement administrator that each individual who takes overall responsibility for managing the company’s debt agreement activities must be:

 (a) a registered debt agreement administrator; or

 (b) a registered trustee.

 (2A) The company’s registration as a debt agreement administrator is subject to the conditions determined in an instrument under subsection (2B).

 (2B) The Minister may, by legislative instrument, determine conditions for the purposes of subsection (2A).

 (3) Subsections (2) and (2A) do not limit subsection 186C(9) or section 186F.