Document ID: chunk:federal_register_of_legislation:F2022C01140:body:0:p26
Version: federal_register_of_legislation:F2022C01140
Segment Type: other
Provision Reference: 
Character Range: 75054–78190

provisional liquidator must:
           (a) prepare a report setting out:
              (i) such matters as will enable the committee of inspection to make an informed assessment as to whether the proposed remuneration is reasonable; and
              (ii) a summary description of the major tasks performed, or likely to be performed, by the provisional liquidator; and
              (iii) the costs associated with each of those major tasks; and
           (b) give a copy of the report to each member of the committee of inspection at the same time as the members are notified of the relevant meeting of the committee.

        (3) Before a determination about remuneration is made by resolution of the creditors under section 60‑16 of the Insolvency Practice Schedule (Corporations), the provisional liquidator must:
           (a) prepare a report setting out:
              (i) such matters as will enable the company's creditors to make an informed assessment as to whether the proposed remuneration is reasonable; and
              (ii) a summary description of the major tasks performed, or likely to be performed, by the provisional liquidator; and
              (iii) the costs associated with each of those major tasks; and
           (b) give a copy of the report to each of the company's creditors at the same time as the creditors are notified of the relevant meeting of creditors.

       70‑55  Requests for information by the Commonwealth

        (1) This section is made for the purposes of subsection 70‑55(4) of the Insolvency Practice Schedule (Corporations).

        (2) Subject to subsection (3), the Commonwealth must bear the cost of providing information or a report or document requested by the Commonwealth under subsection 70‑55(2) of the Insolvency Practice Schedule (Corporations) if, in the opinion of the external administrator, there is not sufficient property available to comply with the request for the information, report or document.

        (3) If:
           (a) a company is under external administration; and
           (b) either:
              (i) a former employee of the company has made a claim for financial assistance from the Commonwealth in relation to unpaid employment entitlements; or
              (ii) the Commonwealth considers that such a claim is likely to be made; and
           (c) the external administrator of the company has lodged a report under the Act; and
           (d) the Commonwealth requests a copy of the report in accordance with section 70‑55 of the Insolvency Practice Schedule (Corporations);
       the Commonwealth must bear the cost of providing a copy of the report to the Commonwealth.

       70‑60  Reporting to ASIC

        (1) This section is made for the purposes of section 70‑60 of the Insolvency Practice Schedule (Corporations).

       Notice of appointment

        (2) If an external administrator is appointed:
           (a) under subsection 436E(4), subsection 444A(2) or subsection 449C(1), (4) or (6) of the Act; or
           (b) by the Court under section 90‑15 of the Insolvency Practice Schedule (Corporations);
       the