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Structure
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ITSA is headed by the Chief Executive, who is also the Inspector-General in Bankruptcy.
The National Management Board consists of the Chief Executive and five National Managers who are responsible for each of ITSA’s business lines: |
- Provides information to debtors on options to deal with unmanageable debt
- Assesses and registers bankruptcy and personal insolvency agreement applications from debtors and registers court ordered insolvency administrations
- Issues bankruptcy notices on the application of creditors
- Exercises statutory powers of the Official Receiver to obtain information and/or recover monies on the application of trustees administering insolvent estates
- Maintains the National Personal Insolvency Index, the public register of personal insolvencies
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- Monitors compliance of proposals with statutory requirements
- Conducts the voting process for debt agreement proposals
- Maintains accurate National Personal Insolvency Index entries in relation to debt agreements
- Works with creditors and administrators to improve standards of practice in relation to proposals
- Provides a telephone helpline service on practice relating to proposals and completion
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- Ensures high national standards of Bankruptcy Act knowledge, practice and procedure by personal insolvency practitioners.
- Investigates alleged offences under the Bankruptcy Act and prepares briefs of evidence for prosecution by theCommonwealth Director of Public Prosecutions
- Educates debtors, clients and stakeholders to promote compliance with the Act.
- Conducts preliminary enquiries that identify potential realisations, matters to be investigated for recovery of assets, and possible offences
- Ensures that all matters requiring further investigation are administered by the Official Trustee, or by a Registered Trustee
- As the Official Trustee:
- administers estates where no Registered Trustee has been appointed
- administers bankrupt estates, Personal Insolvency Agreements, and Debt Agreements where the originally appointed Registered Trustee or Debt Agreement Administrator are no longer able to do so
- controls and sells forfeited property pursuant to orders made under the Commonwealth Proceeds of Crime Acts and the Customs Act
- Acts as special trustee for government agencies pursuant to court orders
| Corporate Strategy & Support |
- Provides strategic and operational corporate support services to the Chief Executive, the National Management Board and all other business lines, including:
- development of employee policies and recruitment and pay services
- budget development and monitoring, financial operations, and procurement responsibilities
- all aspects of information and communications technology
- legal advice to ITSA staff, input into the development of personal insolvency reform (a responsibility of the Commonwealth Attorney General's Department)
- client services coordination
- certain site support functions at all of ITSA's operational sites
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