Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p8
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 8/95)
Character Range: 882280–885237

instrument.
 (2) The Inspector‑General registers an applicant by entering on the Register of Trustees the details relating to the applicant prescribed for the purposes of subsection 15‑1(3).

Registration subject to current conditions
 (3) The registration is subject to the current conditions imposed on the registered trustee.

Certificate of registration
 (4) After registering a person as a trustee, the Inspector‑General must give the person a certificate of registration.
 (5) The certificate may be given electronically.

Period of registration
 (6) The registration has effect for 3 years.

20‑35  Conditions imposed on all registered trustees or a class of registered trustees
 (1) The Insolvency Practice Rules may impose conditions on all registered trustees, or registered trustees of a specified class.
 (2) Without limiting subsection (1), a condition may be imposed limiting the kinds of activity in which a trustee may engage, either for the duration of the registration or for a shorter period.
 (3) Without limiting subsection (1), conditions may be imposed relating to the administration of debt agreements by trustees.

Subdivision C—Varying etc. conditions of registration

20‑40  Application to vary etc. conditions of registration
 (1) If a committee has decided under this Schedule that a person's registration as a trustee is to be subject to a condition, the person may apply to the Inspector‑General for the condition to be varied or removed.
 (2) However, an application cannot be made:
 (a) if the person's registration as a trustee is suspended; or
 (b) if the condition is of a prescribed kind; or
 (c) in prescribed circumstances.
 (3) The application must be lodged with the Inspector‑General in the approved form.
 (4) The application is properly made if:
 (a) an application can be made; and
 (b) subsection (3) is complied with.
 (5) A single application by a registered trustee may deal with more than one condition.

20‑45  Inspector‑General may convene a committee to consider applications
 (1) The Inspector‑General may convene a committee for the purposes of considering an application, or applications, made under section 20‑40.
 (2) The committee must consist of:
 (a) the Inspector‑General; and
 (b) a registered trustee chosen by a prescribed body; and
 (c) a person appointed by the Minister.
Note 1: Section 50‑5 sets out the knowledge and experience that a prescribed body must be satisfied a person has before making an appointment under paragraph (2)(b).
Note 2: Section 50‑10 sets out the matters of which the Minister must be satisfied before making an appointment under paragraph (2)(c).

20‑50  Inspector‑General must refer applications to a committee
 (1) The Inspector‑General must refer an application that is properly made under section 20‑40 to a committee convened under section 20‑45 for consideration.
 (2) The Inspector‑General must do so within 2 months after receiving the application.

20‑55