Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p9
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 9/73)
Character Range: 6332969–6335823

as a registered liquidator.
Note: Fees may be imposed under the Corporations (Fees) Act 2001 for the doing of an act by ASIC.
 (2) ASIC registers an applicant by entering 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 registration is subject to the current conditions imposed on the registered liquidator.

Certificate of registration
 (4) After registering 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 registration has effect for 3 years.

20‑35  Conditions imposed on all registered liquidators or a class of registered liquidators
 (1) The Insolvency Practice Rules may impose conditions on all registered liquidators, or registered liquidators of a specified class.
 (2) Without limiting subsection (1), a condition may be imposed limiting the kinds of activity in which a liquidator may engage, either for the duration of the registration or for a shorter period.

Subdivision C—Varying etc. conditions of registration

20‑40  Application to vary etc. conditions of registration
 (1) If a committee has decided under this Schedule that a person's registration as a liquidator is to be subject to a condition, the person may apply to ASIC for the condition to be varied or removed.
 (2) However, an application cannot be made:
 (a) if the person's registration as a liquidator is suspended; or
 (b) if the condition is of a prescribed kind; or
 (c) in prescribed circumstances.
 (3) The application must be lodged with ASIC in the approved form.
 (4) The application is properly made if:
 (a) an application can be made; and
 (b) subsection (3) is complied with.
 (5) A single application by a registered liquidator may deal with more than one condition.

20‑45  ASIC may convene a committee to consider applications
 (1) ASIC may convene a committee for the purposes of considering an application, or applications, made under section 20‑40.
 (2) The committee must consist of:
 (a) ASIC; and
 (b) a registered liquidator chosen by a prescribed body; and
 (c) a person appointed by the Minister.
Note 1: Section 50‑5 sets out the knowledge and experience that a prescribed body must be satisfied a person has before making an appointment under paragraph (2)(b).
Note 2: Section 50‑10 sets out the matters of which the Minister must be satisfied before making an appointment under paragraph (2)(c).

20‑50  ASIC must refer applications to a committee
 (1) ASIC must refer an application that is properly made under section 20‑40 to a committee convened under section 20‑45 for consideration.
 (2) ASIC must do so within 2 months after receiving the application.

20‑55  Committee to consider applications