Debt Agreement Reform Bill

By David Jacobson The Bankruptcy Amendment (Debt Agreement Reform) Bill 2018 has been introduced into the House of Representatives to reform Australia’s debt agreement system.
The Bill makes provision for:
the types of practitioners authorised to be debt agreement administrators;
registration, deregistration and the obligations of debt agreement administrators;
changing the threshold for debt agreements;
formation, administration, variation and termination of debt agreements;
protections against debt agreements that cause financial hardship or have other defects; and
powers of the Inspector-General in Bankruptcy (Inspector-General) with respect to debt agreements and debt agreement administrators.
The majority of amendments in the Bill will commence six months after Royal Assent.
The purpose of …read more

Source:: Bright Law

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