Anthony Chisholm (Queensland, Australian Labor Party, Assistant Minister for Education) Share this | Hansard source

I thank Senator Cash for her contribution to this debate and support for the Bankruptcy Amendment (Discharge from Bankruptcy) Bill 2023. The bill amends the Bankruptcy Act 1966 to accurately reflect the way automatic bankruptcy discharge dates have been calculated by the Australian Financial Security Authority and its predecessors for over 30 years.

The provisions contained in this bill provide current and future Australian bankrupt persons certainty over their automatic discharge date and allow the Australian Financial Security Authority to continue its practice of assessing bankruptcy applications for adequacy in order to assist with the effective administration of bankrupt estates. The new provisions will require the official receiver to either accept or refuse to accept a statement of affairs within 14 days of receiving it. The time frame will ensure decisions are made within a reasonable and transparent time. The bill will also ensure that the bankruptcy period of those who are or have been affected by this issue is consistent with the dates recorded by the official receiver prior to the commencement in respect of the bankruptcy. These amendments will validate decisions made before the commencement of this bill in reliance of those dates. This is an important bill that provides certainty for those who are currently in or have previously entered the bankruptcy system over the past 30 years and clarifies the process of accepting a statement of affairs. I commend the bill.

Bill read a second time.