5‑5 The Dictionary5‑5 The Dictionary

5‑5 The Dictionary

Note: A number of expressions used in this instrument are defined in section 5 of the Act and section 5‑5 of Schedule 2 to the Act.

In this instrument:

ACN has the same meaning as in the Corporations Act 2001.

Act means the Bankruptcy Act 1966.

ARITA means the Australian Restructuring Insolvency and Turnaround Association, ACN 002 472 362.

current, in relation to the registration of a person as a trustee: see section 5‑10.

disciplinary action, in relation to a person who is registered as a trustee, means:

(a) any action taken by the Inspector‑General in relation to the person under Division 40 of the Insolvency Practice Schedule (Bankruptcy), other than:
(i) the giving of a direction under subsection 40‑10(2) of the Schedule in relation to information that the Inspector‑General reasonably suspects is incomplete or incorrect; or
(ii) the giving of a notice under section 40‑40 of the Schedule (a show‑cause notice); or
(b) the imposition of conditions on the registration of the trustee under paragraph 155I(1)(a) of the old Act; or
(c) the deregistration of the trustee under paragraph 155I(1)(b) of the old Act.

external administration of a company has the same meaning as in the Insolvency Practice Schedule (Corporations).

external administrator of a company has the same meaning as in the Insolvency Practice Schedule (Corporations).

Insolvency Practice Schedule (Bankruptcy) means Schedule 2 to the Act.

Insolvency Practice Schedule (Corporations) means Schedule 2 to the Corporations Act 2001.

material personal interest has a meaning affected by section 5‑15.

old Act means the Bankruptcy Act 1966, as in force immediately before the day on which Schedule 1 to the Insolvency Law Reform Act 2016 commences.

Part 2 committee means a committee convened under one of the following provisions of the Insolvency Practice Schedule (Bankruptcy):

(a) subsection 20‑10(1) (applications for registration);
(b) subsection 20‑45(1) (applications to vary etc. conditions of registration);
(c) subsection 40‑45(1) (disciplinary action);
(d) subsection 40‑75(1) (applications to lift or shorten a suspension).