Document ID: chunk:federal_register_of_legislation:F2022C00672:body:0:p15
Version: federal_register_of_legislation:F2022C00672
Segment Type: other
Provision Reference: 
Character Range: 38276–41081

controlling trustee has carried out and whether any other matters need to be investigated;
 (d) the reasons for the registered trustee's opinion about whether creditors' interests would be better served by accepting the debtor's proposal for dealing with the debtor's affairs under Part X of the Act or by the bankruptcy of the debtor.

Division 50—Part 2 committees

50‑1  Authority
  Unless otherwise stated, a provision of this Division is made for the purposes of section 50‑25 of the Insolvency Practice Schedule (Bankruptcy).

50‑5  Part 2 committee may generally determine its own procedures
  Subject to the Insolvency Practice Schedule (Bankruptcy) and these Rules, a Part 2 committee may determine its own procedures.

50‑10  ARITA may appoint a member of a Part 2 committee
  For the purposes of the following provisions of the Insolvency Practice Schedule (Bankruptcy), the prescribed body is ARITA:
 (a) paragraph 20‑10(2)(b) (applications for registration);
 (b) paragraph 20‑45(2)(b) (applications to vary etc. conditions of registration);
 (c) paragraph 40‑45(2)(b) (disciplinary action);
 (d) paragraph 40‑75(2)(b) (applications to lift or shorten a suspension).

50‑15  Knowledge and experience required of a member of a Part 2 committee appointed by ARITA
 (1) This section is made for the purposes of paragraph 50‑5(2)(a) of the Insolvency Practice Schedule (Bankruptcy).
 (2) A person appointed by ARITA as a member of a committee convened under Part 2 of the Insolvency Practice Schedule (Bankruptcy) must have at least 5 years' experience as a registered trustee.

50‑20  Chair of a Part 2 committee
  The Chair of a Part 2 committee is:
 (a) the Inspector‑General; or
 (b) if the Inspector‑General appoints a delegate to the committee—the Inspector‑General's delegate.

50‑25  Resignation of Part 2 committee members
 (1) A member of a Part 2 committee may resign from the committee by giving notice in writing of that fact to the Chair.
 (2) The resignation takes effect on the later of:
 (a) the day on which the notice is given; and
 (b) a day specified in the notice.

50‑30  Part 2 committee to be reconstituted—removing ARITA members
 (1) This section applies if the Chair of a Part 2 committee is satisfied that a member of the committee chosen by ARITA:
 (a) is unable to perform the duties of a member because of physical or mental incapacity; or
 (b) has neglected his or her duties as a member; or
 (c) is unable to carry out the duties of a member because of a material personal interest in a matter to be considered by the committee; or
 (d) has been convicted of an offence involving fraud or dishonesty.
 (2) The Chair must give ARITA notice of that fact as soon as reasonably practicable after becoming satisfied.
 (3) If ARITA is given notice under subsection (2),