42‑220 Investigating debtor’s property a42‑220 Investigating debtor’s property and income

42‑220 Investigating debtor’s property and income

(1) As soon as practicable after an authority under section 188 of the Act becomes effective, the registered trustee must conduct appropriate investigations of the regulated debtor’s property and income. (2) If the regulated debtor’s property includes significant real estate, company structures or motor vehicles, the registered trustee must: (a) search the appropriate registries for information about the property; and (b) obtain advice from an independent expert about the value of the property. (3) If the regulated debtor was or is involved in significant corporate or trust activity, the registered trustee must take appropriate steps to identify the assets of the debtor that will be subject to control under Division 2 of Part X of the Act, including making inquiries of third parties (for example, solicitors, accountants, creditors, associated entities and financial institutions) to establish whether there is any divisible property or antecedent transactions.