Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p53
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 53/95)
Character Range: 997246–1000086

is entitled to attend any meeting of a committee of inspection.

80‑70  The Court may inquire into conduct of the committee
  The Court may inquire into the conduct of a committee of inspection and make such orders as it thinks fit to ensure the proper conduct of the committee.

Division 85—Directions by creditors

85‑1  Simplified outline of this Division
      The trustee of a regulated debtor's estate must have regard to directions given to the trustee by the creditors of the estate but is not obliged to comply with those directions.

85‑2  Division applies to the Official Trustee
  This Division applies to the Official Trustee in the same way as it applies to the trustee of a regulated debtor's estate.

85‑5  Trustee to have regard to directions given by creditors
 (1) The creditors may, by resolution, give directions to the trustee of a regulated debtor's estate in relation to the administration of the estate.
 (2) The trustee must have regard to any directions mentioned in subsection (1), but the trustee is not required to comply with such directions.
 (3) If the trustee does not comply with a direction, the trustee must make a written record of that fact, along with the trustee's reasons for not complying with the direction.
 (4) If there is a conflict between directions given by the creditors under subsection (1) and by the committee of inspection under section 80‑35, directions given by the creditors override any directions given by the committee.

Division 90—Review of the administration of a regulated debtor's estate

Subdivision A—Introduction

90‑1  Simplified outline of this Division

      Review by the Court
      The Court may inquire into the administration of a regulated debtor's estate either on its own initiative or on the application of the Inspector‑General or a person with a financial interest in the administration of the regulated debtor's estate.
      The Court has wide powers to make orders, including orders replacing the trustee or dealing with losses resulting from a breach of duty by the trustee.
      Review by the Inspector‑General
      The Inspector‑General may review a decision of the trustee of a regulated debtor's estate to withdraw funds from the estate for payment for the trustee's remuneration.
      The Insolvency Practice Rules may set the powers and duties of the Inspector‑General in conducting such a review and may deal with issues relating to the review process.
      Removal of trustee by creditors
      The creditors of a regulated debtor's estate may remove the trustee of the estate and appoint another. However, the trustee may apply to the Court to be reappointed.

Subdivision B—Court powers to inquire and make orders

90‑2  Subdivision applies to the Official Trustee
  This Subdivision applies to the Official Trustee in the same way as it