Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p24
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 24/71)
Character Range: 281319–284051

registered liquidators 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 liquidator that deal with the costs of a matter considered by the Court.
 (2) Those orders may include an order that:
 (a) the registered liquidator is personally liable for some or all of those costs; and
 (b) the registered liquidator is not entitled to be reimbursed by a company or its 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 the functions to be performed. If the Minister appoints a person to a committee, that person must have knowledge or experience in a field such as business, law (including the law of corporate insolvency) or public policy relating to corporate insolvency.
      A single committee may consider more than one matter. The consideration of a matter is not affected by a change in the membership of the committee. A matter may be adjourned or transferred to another committee. The Insolvency Practice Rules may prescribe procedures and make other rules for committees.
      The use and disclosure of information given to a committee is restricted to listed purposes.

50‑5  Prescribed body appointing a person to a committee

Application of this section
 (1) This section applies if a prescribed body is to appoint a person to a committee under this Part.

Prescribed body must only appoint a person with appropriate knowledge and experience
 (2) The prescribed body is to appoint a person as a member of the committee only if the prescribed body is satisfied that the person has:
 (a) if any knowledge or experience is prescribed in relation to appointments of the kind to be made—that knowledge or experience; or
 (b) if no knowledge or experience is prescribed in relation to appointments of the kind to be made—the knowledge and experience necessary to carry out the person's functions as a member of the committee if appointed.

50‑10  Minister appointing a person to a committee

Application of this section
 (1) This section applies if the Minister is to appoint a person to a committee under any