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CORPORATIONS ACT 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)    View history reference

Note: See section 600K.

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 80 - Committees of inspection  

CLAUSE 80-35  FUNCTIONS OF COMMITTEE OF INSPECTION  

 View history reference

80-35(1)  

A committee of inspection has the following functions:


(a) to advise and assist the external administrator of the company;


(b) to give directions to the external administrator of the company;


(c) to monitor the conduct of the external administration of the company;


(d) such other functions as are conferred on the committee by this Act;


(e) to do anything incidental or conducive to the performance of any of the above functions.

80-35(2)  

An external administrator of a company must have regard to any directions given to the external administrator by the committee of inspection, but the external administrator is not required to comply with such directions.

80-35(3)  

If an external administrator of a company does not comply with a direction, the external administrator must make a written record of that fact, along with the external administrator's reasons for not complying with the direction.

 



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