A Registered Bankruptcy Trustee also administers bankrupt estates under the Bankruptcy Act. A Registered Trustee is licenced and supervised by the The Inspector General in Bankruptcy.
A Registered Trustee is usually a fully qualified accountant with the minimum education and experience as set out in the Bankruptcy Act and usually works within a private accountancy firm.
A Registered Trustee will undergo an annual inspection programme carried out by the Bankruptcy Regulation Unit of ITSA. The purpose of the annual inspection programme is to ensure that the Registered Trustee is discharging their duties in accordance with the Bankruptcy Act. If serious malpractice is detected by the Bankruptcy Regulation Unit the matter can be referred to the Inspector General in Bankruptcy and the Registered Trustee could face disciplinary action or their registration could be cancelled.
If you wish your estate to be administered by a Registered Trustee please enquire today as we have a Registered Trustee who can consent to act.
Bankruptcy Glossary & Information
5/02/09