Document ID: chunk:federal_register_of_legislation:F2022C00672:body:0:p10
Version: federal_register_of_legislation:F2022C00672
Segment Type: other
Provision Reference: 
Character Range: 24965–27883

debtor) to clarify any matters in the statement of affairs;
 (d) identifying and making an assessment of realisable assets that could be expected to:
 (i) provide, on a cost‑benefit basis, a return to creditors; or
 (ii) contribute to the payment of the costs and fees of the administration;
 (e) assessing the contribution that the regulated debtor is liable to pay in respect of a contribution assessment period, calculated in accordance with section 139S of the Act;
 (f) determining the likelihood of whether the estate of the regulated debtor includes property that can be realised to pay a dividend to creditors;
 (g) if the trustee has a genuine reason for believing that the regulated debtor (or legal personal representative in the case of a deceased debtor) may not have disclosed an interest in real or other registered property—conducting appropriate searches for such property;
 (h) if information obtained from a search mentioned in paragraph (g) shows that the regulated debtor (or legal personal representative of the deceased debtor) has not made full and true disclosure of his or her interest in property:
 (i) making inquiries of third parties about the information; or
 (ii) if further inquiries are not made, explaining to the creditors why further inquiries were considered unnecessary;
 (i) if the trustee considers that there may have been antecedent transactions—making inquiries of third parties to identify those transactions;
 (j) cooperating with the Inspector‑General by, for example, responding to reasonable requests for information.

42‑35  Investigations and inquiries of matters affecting an administration
 (1) A registered trustee in relation to an administration must consider the views of creditors regarding the extent to which investigations are undertaken in the administration.
 (2) A registered trustee in relation to an administration must inform creditors, as soon as practicable, of the outcomes of any inquiries undertaken in the administration.

42‑40  Realising assets
  A registered trustee in relation to an administration must realise only those assets:
 (a) that will give a cost‑effective return to creditors; or
 (b) that contribute to the payment of the costs of the administration; or
 (c) that may be realised in accordance with a personal insolvency agreement.

42‑45  Ownership or interests in assets
  In determining the ownership of, or an interest in, an asset that is part of divisible property, a registered trustee must act reasonably and claim only the amount that fairly represents the interest in, or value of, the asset.

42‑50  Obtaining advice about interest or value
  If:
 (a) the value of divisible property is likely to have a material impact on the administration of a regulated debtor's estate; and
 (b) the market value of the property is not readily ascertainable;
the registered trustee must obtain advice from an independent expert in