Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p26
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 26/73)
Character Range: 6376683–6379401

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 is a senior staff member (within the meaning given by subsection 5(1) of that Act).
 (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
 (c) the matter may be transferred to another committee with powers, functions and duties under this Part in relation to matters of that kind.

50‑25  Procedure and other rules relating to committees
  The Insolvency Practice Rules may provide for and in relation to:
 (a) the manner in which the committees convened under this Part are to perform their functions, including:
 (i) meetings of committees; and
 (ii) the number of committee members required to constitute a quorum; and
 (iii) disclosure of interests in a matter before a committee; and
 (iv) the manner in which questions are to be decided by the committee; and
 (b) the reconstitution of a committee; and
 (c) the termination of the consideration of a matter by a committee, and the transfer of matters to another committee.