5‑10 What is a current registration?5‑10 What is a current registration?

5‑10 What is a current registration?

(1) If, at a particular time: (a) a person is registered as a trustee; and (b) that registration has not been broken by cancellation of, or a failure to renew, the registration; the registration of the person as a trustee is current at that time. (2) The registration is taken to have first begun on the day on which the unbroken chain of registration first began. (3) To avoid doubt, the registration of a person as a trustee is not broken because: (a) the person was registered as a trustee under the old Act; and (b) on the commencement of Schedule 1 to the Insolvency Law Reform Act 2016, the person was taken to be registered as a trustee under Subdivision B of Division 20 of the Insolvency Practice Schedule (Bankruptcy) because of the operation of item 105 of Schedule 1 to the Insolvency Law Reform Act 2016.