Document ID: chunk:federal_register_of_legislation:F2022C00672:body:0:p8
Version: federal_register_of_legislation:F2022C00672
Segment Type: other
Provision Reference: 
Character Range: 19466–22469

insurance; and
 (b) adequate and appropriate fidelity insurance;
against the liabilities that the person may incur as a result of work carried out as a registered trustee before the suspension takes effect.

20‑10  Prescribed amount of notified estate charges
 (1) This section is made for the purposes of the following provisions of the Insolvency Practice Schedule (Bankruptcy):
 (a) paragraph 20‑75(1)(e);
 (b) paragraph 40‑25(1)(d);
 (c) paragraph 40‑30(1)(d);
 (d) paragraph 40‑40(1)(h).
 (2) The prescribed amount of notified estate charges is $500.

Division 35—Notice requirements

35‑1  Events of which a registered trustee must notify the Inspector‑General
  The following are events in relation to which a registered trustee must lodge a notice with the Inspector‑General under paragraph 35‑5(1)(b) of the Insolvency Practice Schedule (Bankruptcy):
 (a) the registered trustee ceases to practise;
 (b) the registered trustee changes his or her name;
 (c) if the registered trustee practises as a member of a firm, or under a name or style other than the person's own name—the name of the firm, or that other name or style, changes;
 (d) the address of any place where the registered trustee practises as such changes.

Division 40—Disciplinary and other action

40‑1  Industry bodies that may notify the Inspector‑General of grounds for disciplinary action
  The following industry bodies are prescribed for the purposes of section 40‑110 of the Insolvency Practice Schedule (Bankruptcy):
 (a) ARITA;
 (b) CPA Australia;
 (c) Chartered Accountants Australia and New Zealand;
 (d) the Institute of Public Accountants;
 (e) the New South Wales Bar Association;
 (f) the Law Society of New South Wales;
 (g) the Victorian Legal Services Commissioner;
 (h) the Victorian Legal Services Board;
 (i) the Bar Association of Queensland;
 (j) the Queensland Law Society;
 (k) the Legal Practice Board of Western Australia;
 (l) the Law Society of South Australia;
 (m) the Legal Profession Conduct Commissioner of South Australia;
 (n) the Law Society of Tasmania;
 (o) the Law Society of the Australian Capital Territory;
 (p) the Law Society Northern Territory.

Division 42—Standards for registered trustees

Subdivision AA—Introduction

42‑1  Authority
  This Division is made for the purposes of subsection 40‑40(4) of the Insolvency Practice Schedule (Bankruptcy).

42‑4  Purpose of Division
 (1) This Division sets out standards applicable to the exercise of powers, and the carrying out of duties, of registered trustees.
 (2) The purpose of the standards is to ensure:
 (a) that a registered trustee acts at all times in accordance with the trustee's powers and duties under the Act, the regulations and these Rules and in relation to the practice of bankruptcy law generally; and
 (b) that an administration to which these standards apply is carried out consistently at a high level.

42‑4A  Compliance with standards by trustee's employees
  A registered trustee must ensure that his or her