Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p23
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 23/95)
Character Range: 921699–924450

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 oversight of registered trustees

45‑1  Court may make orders in relation to registered trustees
 (1) The Court may make such orders as it thinks fit in relation to a registered trustee.
 (2) The Court may exercise the power under subsection (1):
 (a) on its own initiative, during proceedings before the Court; or
 (b) on application under subsection (3).
 (3) Each of the following persons may apply for an order under subsection (1):
 (a) the registered trustee;
 (b) the Inspector‑General.
 (4) Without limiting the matters which the Court may take into account when making orders, the Court may take into account:
 (a) whether the registered trustee has faithfully performed, or is faithfully performing, the registered trustee's duties; and
 (b) whether an action or failure to act by the registered trustee is in compliance with this Act and the Insolvency Practice Rules; and
 (c) whether an action or failure to act by the registered trustee is in compliance with an order of the Court; and
 (d) whether any person has suffered, or is likely to suffer, loss or damage because of an action or failure to act by the registered trustee; and
 (e) the seriousness of the consequences of any action or failure to act by the registered trustee, including the effect of that action or failure to act on public confidence in registered trustees as a group.
 (5) This section does not limit the Court's powers under any other provision of this Act, or under any other law.

45‑5  Court may make orders about costs
 (1) Without limiting section 45‑1, the Court may make orders in relation to a registered trustee that deal with the costs of a matter considered by the Court.
 (2) Those orders may include an order that:
 (a) the registered trustee is personally liable for some or all of those costs; and
 (b) the registered trustee is not entitled to be reimbursed by a regulated debtor's estate or creditors in relation to some or all of those costs.
 (3) This section does not limit the Court's powers under any other provision of this Act, or under any other law.

Division 50—Committees under this Part

50‑1  Simplified outline of this Division

      This Division sets out common rules for committees established under this Part.
      If a prescribed body appoints a person to a committee, that person must have the prescribed knowledge or experience or, if no knowledge or experience is prescribed, the knowledge and experience necessary to carry out