Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p29
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 29/95)
Character Range: 937267–940081

the trustee of a regulated debtor's estate during the previous financial year; and
 (ii) the amount (if any) prescribed for the purposes of this subparagraph.

Rounding
 (2) Amounts worked out under subsection (1) must be rounded to the nearest whole dollar (rounding 50 cents upwards).

Indexation factor
 (3) Subject to subsection (4), the indexation factor for a financial year is the number worked out by dividing the index number for the March quarter immediately preceding that financial year by the index number for the March quarter immediately preceding that first‑mentioned March quarter.
 (4) If an indexation factor worked out under subsection (3) would be less than 1, the indexation factor is to be increased to 1.

Changes to CPI index reference period and publication of substituted index numbers
 (5) In working out the indexation factor:
 (a) use only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and
 (b) disregard index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

Definition—index number
 (6) In this section:
index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.

Subdivision E—Duties of trustees relating to remuneration and benefits etc.

60‑20  Trustee must not derive profit or advantage from the administration of the estate

Deriving profit or advantage from the estate
 (1) A trustee of a regulated debtor's estate must not directly or indirectly derive any profit or advantage from the administration of the estate.

Circumstances in which profit or advantage is taken to be derived
 (2) To avoid doubt, a trustee of a regulated debtor's estate is taken to derive a profit or advantage from the administration of the estate if:
 (a) the trustee directly or indirectly derives a profit or advantage from a transaction (including a sale or purchase) entered into for or on account of the estate; or
 (b) the trustee directly or indirectly derives a profit or advantage from a creditor of the estate; or
 (c) a related entity of the trustee directly or indirectly derives a profit or advantage from the administration of the estate.

Exceptions
 (3) Subsection (1) does not apply to the extent that:
 (a) another provision of this Act, or of another law, requires or permits the trustee to derive the profit or advantage; or
 (b) the Court gives leave to the trustee to derive the profit or advantage.
Note: Subsection (1) would not, for example, prevent the trustee from recovering remuneration for necessary work