Summary
Amends the
Bankruptcy Act 1966
to reform Australia’s debt agreement system, including by: specifying persons authorised to administer debt agreements and related qualification and registration requirements; specifying arrangements relating to the content, length, variation, termination and voiding of debt agreements; introducing offences relating to the administration of debt agreements; specifying the functions and powers of the Inspector General; modifying requirements in relation to the payment of, and the application process for, unclaimed moneys; and making related technical amendments.