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Treasury & financeAgencyExists today

Australian Financial Security Authority

AFSA

15 August 2013 – present

Previously Insolvency and Trustee Service Australia (1996–2013).

Executive agency that administers Australia's personal insolvency system, regulates insolvency practitioners, runs the Personal Property Securities Register and manages property confiscated under proceeds of crime laws.

Names over time

  1. Insolvency and Trustee Service Australia1996–2013
  2. Australian Financial Security Authority2013–present

How it came into existence

The Insolvency and Trustee Service Australia renamed on 15 August 2013 by an order allocating the new name to the existing executive agency, reflecting its wider role including the Personal Property Securities Register.

Legislation: Bankruptcy Act 1966; Personal Property Securities Act 2009

Main functions

  • Official Receiver and Official Trustee in Bankruptcy
  • Regulation of personal insolvency practitioners
  • Personal Property Securities Register
  • National Personal Insolvency Index
  • Management of confiscated and restrained criminal assets

Where it sits

In the portfolio of Department of the Treasury.

Type of body
Non-corporate Commonwealth entity
Portfolio
Treasury
Accountable authority
Inspector-General – Bankruptcy Act 1966 section 13(c)
ABN
63 384 330 717

Lineage

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Sources