Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p9
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 9/95)
Character Range: 884971–887863

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

20‑55  Committee to consider applications
 (1) If an application to vary or remove a condition of registration is referred to a committee, the committee must consider the application.
 (2) Unless the applicant otherwise agrees, the committee must, for the purposes of considering the application, interview the applicant.
 (3) The committee must, within 20 business days after interviewing the applicant or obtaining the agreement of the applicant as referred to in subsection (2):
 (a) decide whether the condition to which the application relates should be varied or removed; and
 (b) if a condition is to be varied, specify the way in which it is to be varied.

20‑60  Committee to report
  The committee must give the applicant and the Inspector‑General 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 trustee 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 the Inspector‑General to have the individual's registration as a trustee renewed.
 (2) The application must be lodged with the Inspector‑General, in the approved form, before the applicant's registration as a trustee ceases to have effect.
Note: The Court may extend the time within which an application must be lodged: see paragraph 33(1)(c).
 (3) If an individual applies to have his or her registration as a trustee renewed, the individual must, at least 1 month before the registration ceases to have effect, pay the renewal fee determined by the Minister by legislative instrument. If the renewal fee is not paid at least 1 month before the registration ceases to have effect, an additional amount equal to 20% of the renewal fee is payable by the applicant by way of penalty.
 (4) The application is properly made if subsection (2) is complied with.

20‑75  Renewal

Renewal of registration
 (1) On application under section 20‑70, the Inspector‑General must renew the registration of the applicant as a trustee if:
 (a) the application is properly made; and
 (b) the applicant has produced evidence in writing to the Inspector‑General 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