Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p58
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 58/73)
Character Range: 6458124–6460808

of an employee of a company has the same meaning as in Part 5.8A.

80‑26  Committee of inspection—pooled groups

Application of this section
 (1) This section applies if each company that is a member of a pooled group is being wound up.

Meeting to form a committee of inspection for a pooled group
 (2) The external administrator or external administrators must, if directed to do so under section 80‑27, convene a meeting, on a consolidated basis, of the creditors of all of the companies for the purposes of determining either or both of the following:
 (a) whether there is to be a committee of inspection for the pooled group;
 (b) if there is, or is to be, a committee of inspection for the pooled group—who are to be appointed members of the committee.

Committee of inspection for a pooled group becomes the committee of inspection for each member of the pooled group
 (3) A committee of inspection for a pooled group is taken to be a committee of inspection for each company that is a member of the pooled group.

Existing committee of inspection for a member of a pooled group ceases to exist
 (4) If:
 (a) at the meeting, it is resolved that there is to be a committee of inspection for the pooled group; and
 (b) immediately before the meeting, a committee of inspection was in existence for a company that is a member of the pooled group;
the committee mentioned in paragraph (b) ceases to exist when the resolution mentioned in paragraph (a) is passed.

Rules relating to companies under external administration who are members of a pooled group
 (5) The Insolvency Practice Rules may provide for and in relation to meetings in relation to the external administration of companies that are members of a pooled group (pooled group meetings).
 (6) Without limiting subsection (5), the Insolvency Practice Rules may provide for and in relation to:
 (a) other circumstances in which pooled group meetings must or may be convened; and
 (b) voting (including casting votes) at pooled group meetings; and
 (c) the circumstances in which a resolution or a special resolution put to creditors or contributories in a pooled group meeting is passed; and
 (d) costs in relation to pooled group meetings and security for those costs.

80‑27  External administrator must convene meeting in certain circumstances
 (1) The external administrator, or the external administrators, of the members of a pooled group must convene a meeting under section 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