Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1A) For the purposes of considering an application made under section 186B, the Inspector - General must interview the applicant as soon as practicable after receiving the application.
(1) Within 45 business days after interviewing the applicant, the Inspector - General must:
(a) approve the application; or
(b) refuse to approve the application.
Approval of application made by an individual
(2) If:
(a) the applicant is an individual; and
(b) the application is not by way of renewal;
the Inspector - General must approve the application if the Inspector - General is satisfied that the applicant:
(c) passes the basic eligibility test; and
(d) has the ability (including the knowledge) to satisfactorily perform the duties of an administrator in relation to debt agreements; and
(e) has such qualifications and experience (if any) as are prescribed by the regulations; and
(f) has produced evidence in writing to the Inspector - General that the applicant has taken out:
(i) adequate and appropriate professional indemnity insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as a registered debt agreement administrator; and
(g) is a fit and proper person.
Otherwise the Inspector - General must refuse to approve the application.
(3) If:
(a) the applicant is an individual; and
(b) the application is by way of renewal;
the Inspector - General must approve the application if the Inspector - General is satisfied that the applicant:
(c) has produced evidence in writing to the Inspector - General that the applicant maintains:
(i) adequate and appropriate professional indemnity insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as a registered debt agreement administrator; and
(d) does not owe more than the prescribed amount of notified estate charges.
Otherwise the Inspector - General must refuse to approve the application.
Note: For notified estate charge , see subsection (5A).
Approval of application made by a company
(4) If:
(a) the applicant is a company; and
(b) the application is not by way of renewal;
the Inspector - General must approve the application if the Inspector - General is satisfied that:
(c) the applicant passes the basic eligibility test; and
(d) the applicant has the ability to satisfactorily perform the duties of an administrator in relation to debt agreements; and
(e) the applicant has produced evidence in writing to the Inspector - General that the applicant has taken out:
(i) adequate and appropriate professional indemnity insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as a registered debt agreement administrator; and
(f) the applicant is a fit and proper person; and
(g) each director of the company is a fit and proper person.
Otherwise the Inspector - General must refuse to approve the application.
(5) If:
(a) the applicant is a company; and
(b) the application is by way of renewal;
the Inspector - General must approve the application if the Inspector - General is satisfied that:
(c) the applicant has produced evidence in writing to the Inspector - General that the applicant maintains:
(i) adequate and appropriate professional indemnity insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the applicant may incur working as a registered debt agreement administrator; and
(d) the applicant does not owe more than the prescribed amount of notified estate charges.
Otherwise the Inspector - General must refuse to approve the application.
Note: For notified estate charge , see subsection (5A).
When a notified estate charge is owed
(5A) A person owes a notified estate charge if:
(a) the person owes either of the following:
(i) a charge under the Bankruptcy (Estate Charges) Act 1997 (the estate charge );
(ii) a penalty under section 281 (late payment penalty) of this Act in respect of that charge; and
(b) the Inspector - General notified the person of the unpaid estate charge at least 1 month and 10 business days before the person's registration as a debt agreement administrator ceases to be in force.
Guidelines
(6) In deciding whether to approve an application made under section 186B, the Inspector - General must have regard to any relevant guidelines in force under section 186Q.
Notice of decision
(7) If the Inspector - General refuses to approve an application made under section 186B, the Inspector - General must give the applicant a written notice of the refusal, and the reasons for it.
Review
(8) If the Inspector - General decides to refuse to approve an application made under section 186B, the applicant may apply to the Administrative Review Tribunal for review of the decision.
Conditions of registration
(9) If the Inspector - General approves an application under section 186B, the Inspector - General may decide that, if the applicant is registered as a debt agreement administrator under section 186D, the applicant's registration as a debt agreement administrator is subject to specified conditions.
(10) If the Inspector - General makes a decision under subsection (9), the Inspector - General must give the applicant a written notice of the decision and the reasons for it.
(11) If the Inspector - General makes a decision under subsection (9), the applicant may apply to the Administrative Review Tribunal for review of the decision.
(12) In subsection (11):
"decision" has the same meaning as in the Administrative Review Tribunal Act 2024 .