Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p25
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 25/71)
Character Range: 283815–286518

the person's functions as a member of the committee if appointed.

50‑10  Minister appointing a person to a committee

Application of this section
 (1) This section applies if the Minister is to appoint a person to a committee under any of the following paragraphs:
 (a) paragraph 20‑10(2)(c);
 (b) paragraph 20‑45(2)(c);
 (c) paragraph 40‑45(2)(c);
 (d) paragraph 40‑75(2)(c).

Matters of which the Minister must be satisfied before appointing
 (2) The Minister is to appoint a person as a member of the committee only if the Minister is satisfied that the person is qualified for appointment by virtue of his or her knowledge of, or experience in, one or more of the following fields:
 (a) business;
 (b) law, including the law relating to corporate insolvency;
 (c) economics;
 (d) accounting;
 (e) public policy relating to corporate insolvency;
 (f) administration of companies, including insolvent companies.

Minister must not appoint member or staff member of ASIC
 (3) The Minister must not appoint:
 (a) a member of ASIC (within the meaning of section 9 of the Australian Securities and Investments Commission Act 2001); or
 (b) a staff member of ASIC;
to be a member of the committee.

Delegation of power to appoint
 (4) The Minister may, in writing, delegate the Minister's powers to appoint a person to a committee to:
 (a) ASIC; or
 (b) a member of ASIC (within the meaning of section 9 of the Australian Securities and Investments Commission Act 2001); or
 (c) a staff member of ASIC who:
 (i) is an SES employee or acting SES employee; or
 (ii) is an APS employee who holds, or is acting in, an Executive Level 2 position; or
 (iii) holds, or is acting in, an office or position that is equivalent to an SES employee, or an Executive Level 2.
 (5) In exercising powers under a delegation, the delegate must comply with any directions of the Minister.

50‑15  Single committee may consider more than one matter
  A single committee may be convened under this Part to consider one or more of the following:
 (a) a matter or matters relating to one applicant for registration as a liquidator;
 (b) a matter or matters relating to more than one applicant for registration as a liquidator;
 (c) a matter or matters relating to one registered liquidator;
 (d) a matter or matters relating to more than one registered liquidator.

50‑20  Ongoing consideration of matters by committee
  If a committee is convened under this Part to consider a matter:
 (a) the committee's powers, functions and duties in relation to the matter are not affected by a change in the membership of the committee; and
 (b) the committee may adjourn its consideration of the matter, and may do so more than once; and