Commonwealth Consolidated Acts

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Court may order administrator to make good loss caused by breach of duty

  (1)   This section applies if, on application by:

  (a)   the Inspector - General; or

  (b)   a creditor who is or has been a party to a debt agreement;

the Court is satisfied that a person who is or has been an administrator of the debt agreement has committed a breach of duty in relation to the debt agreement.

  (2)   The Court may make any one or more of the following orders:

  (a)   an order directing the person to make good any loss that a creditor has sustained because of the person's breach of duty;

  (b)   if the person is a registered debt agreement administrator--an order directing the Inspector - General to cancel the person's registration as a debt agreement administrator;

  (c)   any other order that the Court considers just and equitable in the circumstances.

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