Document ID: chunk:federal_register_of_legislation:F2022C01140:body:0:p13
Version: federal_register_of_legislation:F2022C01140
Segment Type: other
Provision Reference: 
Character Range: 39795–42475

accordance with the Act.

        (3) Notice of the replacement of a member under subsection (1) or (2) must be given to the person in relation to whom the Part 2 committee has been convened.

       50‑45  Termination of consideration, and transfer, of a matter

        (1) If the Chair of a Part 2 committee is satisfied that a matter could more efficiently or fairly be dealt with by terminating the consideration of the matter by the committee and transferring the matter to another committee (the new committee), the Chair may do so.

        (2) If a matter is transferred under subsection (1), the new committee must deal with the matter afresh.

       50‑50  Duty to disclose interests

        (1) A member of a Part 2 committee who has a material personal interest that relates to a matter to be considered by the committee under Part 2 of the Insolvency Practice Schedule (Corporations), must disclose details of that interest to the Chair.

        (2) The member must disclose the details of the interest as soon as practicable after the member becomes aware that the member has the material personal interest that relates to the matter.

       50‑55  Natural justice and rules of evidence

        (1) A Part 2 committee must observe natural justice.

        (2) A Part 2 committee is not bound by any rules of evidence but may inform itself on any matter as it sees fit.

       50‑60  Decisions made at a meeting
 (1) A Part 2 committee may make a decision in relation to a matter at a meeting, provided each member of the committee is present at the meeting.

        (3) At a meeting of a Part 2 committee, a matter is to be decided by a majority of the votes of the members.

        (4) A committee must keep minutes of proceedings at its meetings.

       50‑65  Decisions made without a meeting

        (1) A Part 2 committee may make a decision in relation to a matter without a meeting.

        (2) A Part 2 committee makes a decision in relation to a matter without a meeting if a majority of the members of the committee sign a document that:
           (a) sets out the terms of the decision; and
           (b) states that each member signing the document is in favour of the decision.

        (3) A decision under this section is taken to have been made:
           (a) on the day on which the document is signed; or
           (b) if the members sign the document on different days—on the day on which the document is signed by the last member to sign the document who makes up the majority.

        (4) Two or more separate documents that are identical in all material respects (apart from signatures), each of which is signed by one or