Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p59
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 59/73)
Character Range: 6460571–6463245

80‑26 if:
 (a) where there is a committee of inspection for a member of the pooled group—the committee of inspection directs the external administrator, or external administrators, to do so; or
 (b) the creditors of one of the members of the pooled group direct the external administrator, or external administrators, to do so, by resolution; or
 (c) at least 25% in value of the creditors of one of the members of the pooled group, direct the external administrator, or external administrators, to do so in writing; or
 (d) both of the following are satisfied:
 (i) less than 25%, but more than 10%, in value of the creditors of one of the members of the pooled group direct the external administrator, or external administrators, to do so in writing;
 (ii) security for the cost of holding the meeting is given to the external administrator, or external administrators, before the meeting is convened; or
 (e) all of the following are satisfied:
 (i) the members of the pooled group are each being wound up under a creditors' voluntary winding up;
 (ii) less than 25%, but more than 5%, in value of the creditors of one of the members of the pooled group direct the external administrator, or external administrators, to do so in writing;
 (iii) none of the creditors who give the direction is a related entity in relation to that member of the pooled group;
 (iv) the direction is given no more than 20 business days after the last resolution for the voluntary winding up of the members of the pooled group is passed.
 (2) However, the external administrator, or external administrators, need not comply with the direction if the direction is not reasonable.
 (3) The Insolvency Practice Rules may prescribe circumstances in which a direction is, or is not, reasonable.
 (4) For the purposes of paragraphs (1)(c), (d) and (e), the value of the creditors is to be worked out by reference to the value of the creditors' claims (that are known at the time the direction is given) against the member of the pooled group.
 (5) This section does not apply if:
 (a) one of the external administrators is a provisional liquidator of a member of the pooled group; or
 (b) one of the external administrators is the administrator of a member of the pooled group and the member is under administration.

80‑30  Committees of inspection—procedures etc.
 (1) Subject to subsection (2), a committee of inspection is to determine its own procedures.
 (2) The Insolvency Practice Rules may provide for and in relation to committees of inspection.
 (3) Without limiting subsection (2), the Insolvency Practice Rules may provide for and in relation to:
 (a) eligibility to be appointed as a