Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p59
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 59/71)
Character Range: 370107–372906

her duties in relation to the external administration of the company if the external administrator complied with the request; or
 (c) it is otherwise not reasonable for the external administrator to comply with the request.
 (3) The Insolvency Practice Rules may prescribe circumstances in which it is, or is not, reasonable for an external administrator of a company to comply with a request of a kind mentioned in subsection (1).

80‑45  Reporting to committee of inspection
 (1) The Insolvency Practice Rules may provide for and in relation to the obligations of external administrators of companies:
 (a) to give information; and
 (b) to provide reports; and
 (c) to produce documents;
to committees of inspection.
 (2) Without limiting subsection (1), the Insolvency Practice Rules may provide for and in relation to:
 (a) other circumstances in which the external administrator of a company must give information, provide a report or produce a document to a committee of inspection; and
 (b) the manner and form in which information is to be given, a report provided or a document produced; and
 (c) the timeframes in which information is to be given, a report provided or a document produced; and
 (d) who is to bear the cost of giving information, providing a report or producing a document.
 (3) The Insolvency Practice Rules may:
 (a) make different provision in relation to different classes of company or external administration of a company; and
 (b) provide that specified requirements imposed under the Insolvency Practice Rules may be replaced or modified, by resolution, by:
 (i) the creditors; or
 (ii) the committee of inspection.

80‑50  Committee of inspection may obtain specialist advice or assistance
 (1) A committee of inspection may resolve that a member of the committee obtain, on behalf of the committee, such advice or assistance as the committee considers desirable in relation to the conduct of the external administration.
 (2) The committee of inspection must obtain the approval of the external administrator of the company or the Court before expenses are incurred in obtaining the advice or assistance.
 (3) To avoid doubt, an expense incurred under subsection (2) is to be taken to be an expense incurred by a person as a member of the committee, unless the Court orders otherwise.

80‑55  Obligations of members of committee of inspection

Deriving profit or advantage from the company
 (1) A member of a committee of inspection must not directly or indirectly derive any profit or advantage from the external administration of the company.

Circumstances in which profit or advantage is taken to be derived
 (2) To avoid doubt, a member of a committee of inspection is taken to derive a profit or advantage from the external administration of the company if: