Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p10
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 10/71)
Character Range: 245133–248113

give the applicant and ASIC a report setting out:
 (a) the committee's decision on the application; and
 (b) the committee's reasons for that decision; and
 (c) if the committee decides that a condition should be varied—the variation that is to be made.

20‑65  Committee's decision given effect
  If the committee decides that a condition imposed on a registered liquidator is to be varied or removed, the condition is varied or removed in accordance with that decision.

Subdivision D—Renewal

20‑70  Application for renewal
 (1) An individual may apply to ASIC to have the individual's registration as a liquidator renewed.
 (2) The application must be lodged with ASIC in the approved form:
 (a) if the Court makes an order under subsection (3)—on or before the time specified in the order; or
 (b) otherwise—before the applicant's registration as a liquidator ceases to have effect.
Note: Fees for lodging documents and late lodgement fees may be imposed under the Corporations (Fees) Act 2001.
 (3) The Court may, on application, extend the time within which the individual may apply to ASIC to have the individual's registration as a liquidator renewed.
 (4) The application for renewal is properly made if subsection (2) is complied with.

20‑75  Renewal

Renewal of registration
 (1) On application under section 20‑70, ASIC must renew the registration of the applicant as a liquidator if:
 (a) the application is properly made; and
 (b) the applicant has produced evidence in writing to ASIC that the applicant maintains:
 (i) adequate and appropriate professional indemnity insurance; and
 (ii) adequate and appropriate fidelity insurance;
  against the liabilities that the applicant may incur working as a registered liquidator; and
 (c) the applicant has complied with any condition dealing with continuing professional education to which the applicant is subject during the applicant's current registration.
 (2) ASIC renews the registration of the applicant by entering, or maintaining, on the Register of Liquidators the details relating to the applicant prescribed for the purposes of subsection 15‑1(3).

Registration subject to current conditions
 (3) The renewed registration is subject to the current conditions imposed on the registered liquidator.

Certificate of registration
 (4) After renewing the registration of a person as a liquidator, ASIC must give the person a certificate of registration.
 (5) The certificate may be given electronically.

Period of registration
 (6) The renewed registration has effect for 3 years, beginning on the day after the person's immediately preceding registration as a liquidator ceased to have effect.

Subdivision E—Offences relating to registration

20‑80  False representation that a person is a registered liquidator
  A person commits an offence if:
 (a) the person makes a representation; and
 (b) the representation is that the person is a registered liquidator; and
 (c) the representation is false.
Penalty: