Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p56
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 56/73)
Character Range: 6453310–6456009

This Division also deals with the procedures and powers of committees of inspection (including requesting information, documents and reports from the external administrator and obtaining specialist advice).
      An external administrator of a company must have regard to directions of the committee but is not obliged to comply.
      Review
      The Court may inquire into and make orders about the conduct of committees of inspection.

80‑5  Application

Application of whole of Division
 (1A) This Division does not apply to:
 (a) a company under restructuring; or
 (b) a company that has made a restructuring plan that has not yet terminated.

Application of sections 80‑10 to 80‑25
 (1) The rules in sections 80‑10 to 80‑25 apply if the external administrator of a company convenes a meeting of creditors for the purpose of determining either or both of the following:
 (a) whether there is to be a committee of inspection for the company;
 (b) if there is, or is to be, a committee of inspection—who are to be appointed members of the committee.
 (2) However, those rules do not apply if the company is a member of a pooled group.
Note: Committees of inspection for pooled groups are dealt with in sections 80‑26 and 80‑27.

80‑10  Committee of inspection—company not a member of a pooled group
  The creditors of a company may, by resolution, determine that there is to be a committee of inspection in relation to the external administration of the company.

80‑15  Appointment and removal of members of committee of inspection by creditors generally
 (1) The creditors of a company may, by resolution, appoint members of a committee of inspection in relation to the external administration of the company.
 (2) The creditors of a company may by resolution:
 (a) remove a person appointed as a member of the committee under this section; and
 (b) appoint another person to fill a vacancy in the office of a member of the committee of inspection appointed under this section.
 (3) A person is not entitled to vote on a resolution to appoint or remove a member of a committee of inspection under this section if:
 (a) the person, acting either alone or with others, appoints a person as a member of the committee under section 80‑20; or
 (b) the person, acting either alone or with others, appoints a person as a member of the committee under section 80‑25.

80‑20  Appointment of committee member by large creditor
 (1) A creditor representing at least 10% in value of the creditors, or a group of creditors who together represent at least 10% in value of the creditors, of a company may appoint a person as a member of a committee of inspection in relation to the external administration of