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ITSA Practices & Policies

The documents accessed through this webpage are ITSA’s�current policies and practices outlining how ITSA exercises its powers and performs its functions; and regulatory practice statements which provide direction and guidance to regulated entities, outlining ITSA’s expectations on how legislation should be interpreted.

ITSA administers the Bankruptcy Act 1966 and related legislation. The legislation creates the statutory roles of the Inspector General, the Official Receiver and the Official Trustee within ITSA. The roles of each of these entities are described here.

Inspector-General Practice Statements (IGPS)
These documents give guidance to regulated entities by explaining when and how the Inspector-General in Bankruptcy will exercise specific powers under the Bankruptcy Act, describing the principles underlying the Inspector-General’s approach and the Inspector-General’s expectation of practitioners.

Inspector-General Practice Guidelines (IGPG)
These documents give guidance to regulated and non-regulated entities by explaining when and how the Inspector-General in Bankruptcy will interpret areas of work or practice that are not specifically governed or provided for under the Bankruptcy Act, describing the principles underlying the Inspector-General’s approach and the Inspector-General’s expectation of practitioners.

Inspector-General Practice Directions (IGPD)
These documents are to assist regulated entities by explaining how the law should be interpreted, giving both guidance and direction on specific insolvency practice.

Official Receiver Practice Statements (ORPS)
The Official Receiver Practice Statements describe the way ITSA performs functions and exercises powers conferred on the Official Receiver under the Bankruptcy Act and related legislation.

Debt Agreement Practice Statements (DAPS)
The Debt Agreement Practice Statements describe the way ITSA performs functions and exercises powers conferred on the Official Receiver under the Bankruptcy Act and related legislation including powers in relation to debt agreements.

Official Trustee Practice Statements (OTPS)
The Official Trustee statements describe how ITSA carries out its trustee duties under the Bankruptcy Act and how decisions are made in the administration of bankrupt estates.

Click here to view the complete index list of all ITSA policies and practices

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Schedule of Inspector-General Practice Statements

Title	Document Status	IGPS Number
Regulatory framework	Revised February 2010	IGPS 1
Regulation of trustees and debt agreement administrators	Issued March 2007	IGPS 2
~~Registered trustee registration process~~	Superseded by *IGPS13*	~~IGPS 3~~
Guidelines for registration as a debt agreement administrator	Issued March 2007	IGPS 4
Funding for trustees under Section 305	Issued February 2006	IGPS 5
Referral of offences for rash and hazardous gambling under Section 271	Revised April 2010	IGPS 6
Annual estate returns	Revised July 2010	IGPS 7
Involuntary cancellation of�trustee registration	Issued January 2009	IGPS 8
Involuntary cancellation of administrator registration	Issued January 2009	IGPS 9
Complaint handling process for complaints against bankruptcy trustees and debt agreement administrators	Issued October 2008	IGPS 10
Complaint handling process for complaints against bankruptcy trustees and debt agreement administrators	Issued December 2010	IGPS 10.1
Monitoring and inspection of bankruptcy trustees and debt agreement administrators	Issued September 2008	IGPS 11
Statutory Reviews of trustees’ decisions under the Bankruptcy Act 1966 by the Inspector-General in Bankruptcy	Issued December 2008	IGPS 12
Statutory reviews of trustees’ decisions under the Bankruptcy Act 1966 by the Inspector-General in Bankruptcy	Issuded December 2010	IGPS 12.1
Becoming registered as a trustee in bankruptcy	Issued June 2008	IGPS 13
Referral of offences against the Bankruptcy Act 1966 to the Inspector-General	Issued February 2010	IGPS 14
Referring offences against the Bankruptcy Act 1966 to the Inspector-General	Issued December 2010	IGPS 14.1
Assessment by the Inspector-General of a Trustee’s remuneration approval request	Issued December 2010	IGPS 15
Reviewing Remuneration of Trustees and Costs of Third Party Service Providers	Issued December 2010	IGPS 16
Issuing of infringement notices by the Inspector-General in Bankruptcy	Issued December 2010	IGPS 18

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Inspector-General Practice Guidelines (IGPG)
These documents give guidance to regulated and non-regulated entities by explaining when and how the Inspector-General in Bankruptcy will interpret areas of work or practice that are not specifically governed or provided for under the Bankruptcy Act, describing the principles underlying the Inspector-General’s approach and the Inspector-General’s expectation of practitioners.

These statements and directions will be regularly reviewed and updated to reflect changes in the law or to our organisational structure, policies or procedures as required. Some of the statements are under development and indicative release dates are shown in the schedule below.

If you have any comments, suggestions or queries on a matter referred to in these Practice Statements, please contact us at any time by email at br.qld@itsa.gov.au or by mail addressed to:

Practice Manager – Regulation branch
Insolvency & Trustee Service Australia
PO Box 10443
ADELAIDE STREET BRISBANE QLD 4000

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Schedule of Inspector-General Practice Guidelines

Title	Document Status	IGPG Number
Debt Agreement Administrators Guidelines relating to advertising	Issued December 2010	IGPG 1
Debt Agreement Administrators Guidelines relating to advertising	Revised March 2011	IGPG 1.1

Inspector-General Practice Directions (IGPD)
These documents are to assist regulated entities by explaining how the law should be interpreted, giving both guidance and direction on specific insolvency practice.

These statements and directions will be regularly reviewed and updated to reflect changes in the law or to our organisational structure, policies or procedures as required. Some of the statements are under development and indicative release dates are shown in the schedule below.

If you have any comments, suggestions or queries on a matter referred to in these Practice Statements, please contact us at any time by email at br.qld@itsa.gov.au or by mail addressed to:

Practice Manager – Bankruptcy Regulation branch
Insolvency & Trustee Service Australia
PO Box 10443
ADELAIDE STREET BRISBANE QLD 4000

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Schedule of Inspector-General Practice Directions

Title	Document Status	IGPD Number
Trustees fiduciary duties¹	Issued June 2008 Superceded by *IGPD14*	IGPD 1
Collection of realisations and interest charges	Issued November 2007	IGPD 2
What constitutes an expense of a registered debt agreement administrator	Issued April 2007	IGPD 3
What constitutes an expense recoverable in a debt agreement by an administrator?	Issued December 2010	IGPD 3.1
Meeting procedure and section 73 proposals	Revised January 2009	IGPD 4
To be advised	To be advised	IGPD 5
Trustee remuneration practices	Issued June 2008	IGPD 6
Trustee remuneration practices	Revised January 2010	IGPD 6.1
Remuneration entitlements of a Registered Bankruptcy Trustee	Issued December 2010	IGPD 6.2
~~Trustee remuneration – Requesting up front fees from debtors~~	See *IGPD6*	~~IGPD 7~~
Solicitor controlling trustees eligibility requirements	Issued October 2009	IGPD 8
Standards for trustees and controlling trustees	Issued December 2004	IGPD 9
What is a secured creditor in a debt agreement	Issued August 2009	IGPD 10
Objections practice	Issued September 2009	IGPD 11
Controlling trustee role and duties	Issued February 2010	IGPD 12
Controlling Trustees Roles and Duties	Issued September 2010	IGPD 12.1
Controlling Trustee’s Roles and Duties	Issued December 2010	IGPD 12.2
RDAA Certifications - Guidelines relating to certification requirements	Revised February 2010	IGPD 13
Proper Performance of Duties of a Trustee¹	Issued March 2010	IGPD 14
RDAA Accounting requirements - Guidelines relating to keeping proper accounts	Revised February 2009	IGPD 15
RDAA Accounting requirements - Guidelines relating to keeping proper accounts	Revised February 2010	IGPD 15.1
Debt Agreement Administrators Guidelines relating to keeping proper accounts	Issued December 2010	IGPD 15.2
Guidelines relating to Administrator duty to notify Official Receiver of 6 month arrears default	Issued May 2009	IGPD 16
Guidelines relating to Administrator duty to notify creditors of 3 month arrears default	Revised February 2010	IGPD 17
Trustee Remuneration Notifications	Issued December 2010	IGPD 18
Guidelines for the Payment of Monies to the Commonwealth Pursuant to section 254 of the Bankruptcy Act 1966	Issued January 2012	IGPD 20
ITSA Website Advertising of Meetings of Creditors	Issued September 2010	IGPD 21
ITSA Website Advertising of Meetings of Creditors	Revised July 2011	IGPD 21.1

¹ Superceded by IGPD 14 effective 30 March 2010

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Official Receiver Practice Statements (ORPS)
The Official Receiver Practice Statements will be regularly reviewed and updated to reflect changes in the law or to our organisational structure, policies or procedures as required.

If you have any comments, suggestions or queries on a matter referred to in the Bankruptcy Registry Practice Statements, please contact us at any time by email at info@itsa.gov.au or by mail addressed to:

National Manager – Information Registry
Insolvency & Trustee Service Australia
GPO Box 548
SYDNEY NSW 2001

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Schedule of Official Receiver Practice Statements

Schedule of Information Registry Official Receiver Practice Statements

Title	Document Status	ORPS Number
Declaration of intention to present a debtor’s petition	Updated December 2010	ORPS 1
Bankruptcy by debtors petition	Updated August 2008	ORPS 2
Bankruptcy by creditors petition	Issued October 2010	ORPS 3
Setting up a Personal Insolvency Agreement	Revised August 2010	ORPS 4
Insolvent deceased estate (Part XI of the Bankruptcy Act)	Revised August 2010	ORPS 5
Issuing a bankruptcy notice	Revised August 2010	ORPS 6
Issuing an official receiver notice	Revised July 2010	ORPS 7
Maintaining the national personal insolvency index (NPII)	Revised August 2010	ORPS 8
Inspecting documents filed with the official receiver (Searching the public record)	Revised June 2010	ORPS 9
Filing of a Statement of Affairs and Issue of 77CA Notices by the Official Receiver	Issued December 2010	ORPS 10

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Debt Agreement Practice Statements (DAPS)
The Debt Agreement Practice Statements will be regularly reviewed and updated to reflect changes in the law or to our organisational structure, policies or procedures as required.

If you have any comments, suggestions or queries on a matter referred to in the Debt Agreement Practice Statements, please contact us at any time by email at andrew.robinson@itsa.gov.au or by mail addressed to:

National Manager – Debt Agreement Service
Insolvency & Trustee Service Australia
PO Box 10443 Adelaide Street
BRISBANE QLD 4000

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Schedule of Official Receiver Practice Statements

Schedule of Debt Agreement Official Receiver Practice Statements

Title	Document Status	DAPS Number
Who is eligible to propose a debt agreement	Issued July 2008	DAPS 1
When a debt agreement proposal is acceptable	Issued July 2008	DAPS 2
Voting on proposals and proposal to vary and terminate	Issued July 2009	DAPS 3
Cancellation of DAP	Issued July 2008	DAPS 4
Proposal to vary	Issued July 2008	DAPS 5
Proposal to terminate	Issued July 2008	DAPS 6
Six month arrears default	Issued July 2008	DAPS 7
Completion of a debt agreement	Issued July 2008	DAPS 8
Replacing a debt agreement administrator	Issued July 2008	DAPS 9
When does the Debt Agreement Proposal Lodgement Fee apply?	Issued July 2010	DAPS 10

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Official Trustee Practice Statements (OTPS)
The Official Trustee’s Practice Statements describe the way in which the Official Trustee approaches the administration of bankrupt estates and other arrangements under the Bankruptcy Act. These Statements are not issued as directions or instructions to trustees on how matters should be administered. They are intended to provide an indication to debtors and creditors of what they should expect from the Official Trustee.

Further practice statements will be published as they are developed.

If you have any comments or questions on a matter referred to in these Practice Statements, please contact ITSA at any time by email to cheryl.cullen@itsa.gov.au or by post addressed to:

National Manager Trustee Services
Insolvency & Trustee Service Australia
GPO Box 2851
MELBOURNE VIC 3001

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Schedule of Official Trustee Practice Statements

Title	Document Status	OTPS Number
Income contributions	Issued February 2008	OTPS 1
Bank Accounts - Application of Section 125 of the Bankruptcy ACT 1966 where estate is administered by the Official Trustee	Issued July 2009	OTPS 2

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Documents can be downloaded in PDF.

Should you have difficulty in reading, printing or downloading these documents, please email webmanager@itsa.gov.au for further assistance.

For all other enquiries, please email info@itsa.gov.au.

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