Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p22
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 22/95)
Character Range: 919168–921990

consider the information and the copies of any documents included with the industry notice.

Inspector‑General must give notice if no action to be taken
 (3) If, after such consideration, the Inspector‑General decides to take no action in relation to the matters raised by the industry notice, the Inspector‑General must give the industry body written notice of that fact.

45 business days to consider and decide
 (4) The consideration of the information and the copies of any documents included with the industry notice must be completed and, if the Inspector‑General decides to take no action, a notice under subsection (3) given, within 45 business days after the industry notice is lodged.

Inspector‑General not precluded from taking action
 (5) The Inspector‑General is not precluded from:
 (a) suspending the registration of a registered trustee under section 40‑25; or
 (b) cancelling the registration of a registered trustee under section 40‑30; or
 (c) giving a registered trustee a notice under section 40‑40 (a show‑cause notice); or
 (d) imposing a condition on a registered trustee under another provision of this Schedule;
wholly or partly on the basis of information or a copy of a document included with the industry notice, merely because the Inspector‑General has given a notice under subsection (3) in relation to the matters raised by the industry notice.

Notice to industry body if Inspector‑General takes action
 (6) If the Inspector‑General does take action of the kind mentioned in subsection (5) wholly or partly on the basis of information or a copy of a document included with the industry notice, the Inspector‑General must give the industry body notice of that fact.

Notices are not legislative instruments
 (7) A notice under subsection (3) or (6) is not a legislative instrument.

40‑105  No liability for notice given in good faith etc.
 (1) An industry body is not liable civilly, criminally or under any administrative process for giving a notice under subsection 40‑100(1) if:
 (a) the body acted in good faith in giving the notice; and
 (b) the suspicion that is the subject of the notice is a reasonable suspicion.
 (2) A person who, in good faith, makes a decision as a result of which the industry body gives a notice under subsection 40‑100(1) is not liable civilly, criminally or under any administrative process for making the decision.
 (3) A person who, in good faith, gives information or a document to an industry body that is included, or a copy of which is included, in a notice under subsection 40‑100(1) is not liable civilly, criminally or under any administrative process for giving the information or document.

40‑110  Meaning of industry bodies
  The Insolvency Practice Rules may prescribe industry bodies for the purposes of this Subdivision.

Division 45—Court