CORPORATIONS ACT 2001
|PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS
|Division 80 - Committees of inspection
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.
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.
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.