Overview

The Bankruptcy (Fees and Remuneration) Determination 2008 was enacted to facilitate cost recovery arrangements for personal insolvency services provided by the Insolvency and Trustee Service Australia (ITSA). This legislative instrument was introduced by the Commonwealth Government to align with its cost recovery policy and follows the Bankruptcy (Fees and Remuneration) Determination 2007, with specific adjustments to the fees for services related to the National Personal Insolvency Index. The objective is to ensure that the fees for these services are reviewed biennially, reflecting any changes in costs, while maintaining a transparent and fair fee structure for stakeholders. This Determination was developed through extensive consultation with key stakeholders and is designed to ensure that the fees remain reflective of the actual costs incurred by ITSA in providing these services. The Bankruptcy (Fees and Remuneration) Determination 2008, which commenced on 1 July 2008, reduces the fees for inspecting material in the Index and giving an extract from $22 to $20, and for inspecting material entered in the Index from $14 to $11. This Determination is a legislative instrument under the Legislative Instruments Act 2003, and it represents a minor adjustment to the existing fee structure to ensure continued cost recovery and operational efficiency within ITSA.

Scope and Application

The Bankruptcy (Fees and Remuneration) Determination 2008 applies to the Insolvency and Trustee Service Australia (ITSA) which is responsible for the provision of personal insolvency services, and specifically governs the fees and remuneration associated with these services. This determination is a legislative instrument under the Legislative Instruments Act 2003, and it commenced on 1 July 2008. The fees established by this Determination are intended to reflect cost recovery principles, and they are subject to a biennial review unless significant cost changes warrant an earlier review. The scope of the fees primarily concerns the costs associated with inspecting material in the National Personal Insolvency Index and obtaining extracts from that material, with recent adjustments lowering the fees for these services. This Determination does not extend to any other services or activities outside the scope of personal insolvency services provided by ITSA.

Key Provisions

The main operative sections of the Bankruptcy (Fees and Remuneration) Determination 2008 (sections 2.02(1) and 2.02(2)) stipulate the fees for services provided by the Insolvency and Trustee Service Australia (ITSA) in relation to the National Personal Insolvency Index (the Index). Specifically, subclause 2.02(1) reduces the fee for inspecting material in the Index and providing an extract of that material from $22 to $20, while subclause 2.02(2) lowers the fee for inspecting material entered in the Index from $14 to $11. Additionally, the note to clause 1.02, which was previously included, has been deleted as it is no longer applicable. The Act imposes specific financial obligations on parties seeking to inspect or extract information from the Index. As per the updated fees, parties must now pay $20 for inspecting material and providing an extract, and $11 for merely inspecting material. These fees reflect the cost recovery principles adopted by ITSA since July 2006, which were developed following extensive consultation with key stakeholders. The regular biennial review of these fees ensures that they remain consistent with the actual costs incurred by ITSA. The Determination includes no explicit provisions detailing offences, penalties, or civil/criminal consequences for non-compliance with the fee structure. However, the payment of fees as stipulated is implicitly required for the services to be rendered. Failure to comply with the fee structure could potentially lead to administrative or legal consequences, although the Determination itself does not outline specific penalties. The Determination operates under the framework of the Legislative Instruments Act 2003, which provides a statutory basis for the enforcement of the fee structure.