Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p48
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 48/95)
Character Range: 984917–987531

80‑5  Application of sections 80‑10 to 80‑25
  The rules in sections 80‑10 to 80‑25 apply if the trustee of a regulated debtor's estate convenes a meeting of creditors for the purpose of determining either or both of the following:
 (a) whether there is to be a committee of inspection for the regulated debtor's estate;
 (b) if there is, or is to be, a committee of inspection—who are to be appointed members of the committee.

80‑10  Committee of inspection
  The creditors of a regulated debtor's estate may, by resolution, determine that there is to be a committee of inspection in relation to the administration of the estate.

80‑15  Appointment and removal of members of committee of inspection by creditors generally
 (1) The creditors of a regulated debtor's estate may, by resolution, appoint members of a committee of inspection in relation to the administration of the estate.
 (2) The creditors of a regulated debtor's estate may by resolution:
 (a) remove a person appointed as a member of the committee under this section; and
 (b) appoint another person to fill a vacancy in the office of a member of the committee appointed under this section.
 (3) A person is not entitled to vote on a resolution to appoint or remove a member of a committee of inspection under this section if:
 (a) the person, acting either alone or with others, appoints a person as a member of the committee under section 80‑20; or
 (b) the person, acting either alone or with others, appoints a person as a member of the committee under section 80‑25.

80‑20  Appointment of committee member by large creditor
 (1) A creditor representing at least 10% in value of the creditors, or a group of creditors who together represent at least 10% in value of the creditors, of a regulated debtor's estate may appoint a person as a member of a committee of inspection in relation to the administration of the estate.
 (2) If a creditor or a group of creditors appoints a person as a member of a committee of inspection under this section, the creditor or group of creditors may:
 (a) remove the person as a member of the committee; and
 (b) appoint another person to fill a vacancy in the office of that member of the committee.
 (3) A creditor, acting either alone or with others, is not entitled to appoint a person as a member of a committee of inspection under subsection (1) if:
 (a) the creditor votes on a resolution to appoint or remove a member of the committee under section 80‑15; or
 (b) the creditor, acting either alone or with others, appoints a member of the committee under subsection 80‑25(1); or
 (c) the creditor,