Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p23
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 23/73)
Character Range: 6369131–6371890

copy of a document included with the industry notice, merely because ASIC has given a notice under subsection (3) in relation to the matters raised by the industry notice.

Notice to industry body if ASIC takes action
 (6) If ASIC does take action of the kind mentioned in subsection (5) wholly or partly on the basis of information or a copy of a document included with the industry notice, ASIC must give the industry body notice of that fact.

Notices are not legislative instruments
 (7) A notice under subsection (3) or (6) is not a legislative instrument.

40‑105  No liability for notice given in good faith etc.
 (1) An industry body is not liable civilly, criminally or under any administrative process for giving a notice under subsection 40‑100(1) if:
 (a) the body acted in good faith in giving the notice; and
 (b) the suspicion that is the subject of the notice is a reasonable suspicion.
 (2) A person who, in good faith, makes a decision as a result of which the industry body gives a notice under subsection 40‑100(1) is not liable civilly, criminally or under any administrative process for making the decision.
 (3) A person who, in good faith, gives information or a document to an industry body that is included, or a copy of which is included, in a notice under subsection 40‑100(1) is not liable civilly, criminally or under any administrative process for giving the information or document.

40‑110  Meaning of industry bodies
  The Insolvency Practice Rules may prescribe industry bodies for the purposes of this Subdivision.

Subdivision H—Consequences of certain disciplinary and other action

40‑111  Appointment of another liquidator if liquidator's registration is suspended or cancelled
 (1) If:
 (a) the registration of a liquidator is suspended or cancelled under this Division; and
 (b) the liquidator is conducting the external administration of a company at the time the registration is suspended or cancelled;
ASIC may, in writing, appoint another registered liquidator to conduct the external administration of the company.
 (2) If:
 (a) a liquidator fails to renew his or her registration as a liquidator before that registration ceases to have effect; and
 (b) no order has been made by the Court under subsection 20‑70(3) extending the period during which the liquidator may apply for renewal; and
 (c) the liquidator is conducting the external administration of a company at the time his or her registration as a liquidator ceases to have effect;
ASIC may, in writing, appoint another registered liquidator to conduct the external administration of the company.
 (3) Subsections (1) and (2) do not apply to:
 (a) a liquidator appointed by the Court; or
 (b) a winding up ordered by ASIC under section 489EA; or
 (c) a