Part 1Introduction

Part 1—Introduction 1‑1  Object of this Schedule  (1) The object of this Schedule is to ensure that any person registered as a trustee:  (a) has an appropriate level of expertise; and  (b) behaves ethically; and  (c) maintains sufficient insurance to cover his or her liabilities in practising as a registered trustee.  (2) The object of this Schedule is also:  (a) to regulate the administration of regulated debtors’ estates consistently, unless there is a clear reason to treat a matter that arises in relation to a particular kind of estate differently; and  (b) to regulate the administration of regulated debtors’ estates to give greater control to creditors. 1‑5  Simplified outline of this Schedule Registering trustees Under this Act, only the Official Trustee or a registered trustee can act as the trustee of a regulated debtor’s estate.