Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p27
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 27/71)
Character Range: 288815–291910

or
 (ii) to a committee convened under Part 2 of the Insolvency Practice Schedule (Bankruptcy) to assist the committee to exercise its powers or perform its functions under that Part; or
 (iii) to another committee convened under this Part to assist the committee to exercise its powers or perform its functions under this Part; or
 (iv) to enable or assist a body prescribed for the purposes of this paragraph to perform its disciplinary function in relation to its members; or
 (v) in order to enable or assist an authority or person in a State or Territory, or a foreign country, to perform or exercise a function or power that corresponds, or is analogous, to any of the committee's or ASIC's functions and powers; or
 (vi) to a court or tribunal in relation to proceedings before the court or tribunal.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code).

Part 3—General rules relating to external administrations

Division 55—Introduction

55‑1  Simplified outline of this Part

      This Part sets out requirements for conducting the external administration of a company.
      The main provisions deal with:
             (a) the remuneration of the external administrator; and
             (b) the duties of the external administrator in handling the money and other property of the company; and
             (c) conflicts of interest; and
             (d) the duties of the external administrator to keep appropriate records, to report to ASIC and to give information, documents and reports to creditors, members of the company and others; and
             (e) creditor and company meetings; and
             (f) the creation and conduct of a committee to monitor the external administration (called a committee of inspection); and
             (g) the rights of creditors to review the external administration; and
             (h) the rights of creditors to remove the external administrator and appoint another; and
             (i) the review of the external administration by the Court.
      There are additional rules that apply to companies under external administration in Chapter 5 (for example, about appointment of external administrators) of this Act.
      Companies in receivership are not covered in this Part (see generally Part 5.2 of this Act).

Division 60—Remuneration and other benefits received by external administrators

Subdivision A—Introduction

60‑1  Simplified outline of this Division

      Remuneration
      The external administrator of a company is entitled to receive remuneration for necessary work properly performed by the external administrator in relation to the external administration.
      The amount of remuneration will usually be set under a remuneration determination. Remuneration determinations are made by:
             (a) in a members voluntary winding up—the members; and
             (b) in most other cases—the creditors or the committee of inspection (if there is one).
      However, if there is no remuneration determination, the external