Certain actions or omissions by people while bankrupt or after being released (i.e. discharged) from bankruptcy can be subject to various Bankruptcy Act 1966 offences.
Concealment of property from bankruptcy trustee | 1 to 5 years | section 263 of the Bankruptcy Act |
Creditor lodging false claims to vote | 6 months | section 263C of the Bankruptcy Act |
Failure to disclose property to bankruptcy trustee | 1 to 5 years. | section 265 of the Bankruptcy Act |
Failure to attend interview with bankruptcy trustee | 6 months | section 267D of the Bankruptcy Act |
Bankrupt obtaining credit of more than statutory limit without advising of bankruptcy | 3 years | section 269 of the Bankruptcy Act |
Failure to keep proper books and records | 1 to 3 years | section 270 of the Bankruptcy Act |
Bankrupt leaving Australia with intention of not returning | 3 to 5 years | section 272 of the Bankruptcy Act |
The table above outlines the imprisonment term or penalty for key Bankruptcy Act offences. The Australian Financial Security Authority (AFSA) is the government regulator responsible for any prosecutions.