Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p8
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 8/73)
Character Range: 6330401–6333198

within 10 years before making the application, of an offence involving fraud or dishonesty; and
 (d) is not, and has not been within 10 years before making the application, an insolvent under administration; and
 (e) has not had his or her registration as a liquidator under this Act cancelled within 10 years before making the application, other than in response to a written request by the applicant to have the registration cancelled; and
 (f) has not had his or her registration as a trustee under the Bankruptcy Act 1966 cancelled within 10 years before making the application, other than in response to a written request by the applicant to have the registration cancelled; and
 (g) is not disqualified from managing corporations under Part 2D.6 of this Act, or under a law of an external Territory or a law of a foreign country; and
 (h) is otherwise a fit and proper person; and
 (i) is resident in Australia or in another prescribed country.
 (5) The committee may decide that the applicant should be registered even if the committee is not satisfied of a matter mentioned in paragraph (4)(a), (e), (f) or (i), provided the applicant would be suitable to be registered as a liquidator.

Registration may be subject to conditions
 (6) The committee may decide that the applicant's registration is to be subject to any conditions specified by the committee.

Spent convictions
 (7) Nothing in this section affects the operation of Part VIIC of the Crimes Act 1914.
Note: Part VIIC of the Crimes Act 1914 includes provisions that, in certain circumstances, relieve persons from the requirement to disclose spent convictions and require persons aware of such convictions to disregard them.

20‑25  Committee to report
  The committee must 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 under subsection 20‑20(5) or (6) that the applicant should be registered subject to a condition:
 (i) the condition; and
 (ii) the committee's reasons for imposing the condition.

20‑30  Registration

Registration as liquidator
 (1) ASIC must register the applicant as a liquidator if:
 (a) the committee has decided that the applicant should be registered; and
 (b) the applicant has produced evidence in writing to ASIC that the applicant has taken out:
 (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.
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