Div 50Committees under this Part

Division 50—Committees under this Part

50‑1  Simplified outline of this Division

This Division sets out common rules for committees established under this Part.

If a prescribed body appoints a person to a committee, that person must have the prescribed knowledge or experience or, if no knowledge or experience is prescribed, the knowledge and experience necessary to carry out the functions to be performed. If the Minister appoints a person to a committee, that person must have knowledge or experience in a field such as business, law (including the law of bankruptcy) or public policy relating to bankruptcy.

A single committee may consider more than one matter. The consideration of a matter is not affected by a change in the membership of the committee. A matter may be adjourned or transferred to another committee. The Insolvency Practice Rules may prescribe procedures and make other rules for committees.

The use and disclosure of information given to a committee is restricted to listed purposes.

50‑5  Prescribed body appointing a person to a committee

 (1) This section applies if a prescribed body is to appoint a person to a committee under this Part.

Prescribed body must only appoint a person with appropriate knowledge and experience

 (2) The prescribed body is to appoint a person as a member of the committee only if the prescribed body is satisfied that the person has:

 (a) if any knowledge or experience is prescribed in relation to appointments of the kind to be made—that knowledge or experience; or

 (b) if no knowledge or experience is prescribed in relation to appointments of the kind to be made—the knowledge and experience necessary to carry out the person’s functions as a member of the committee if appointed.

50‑10  Minister appointing a person to a committee

 (1) This section applies if the Minister is to appoint a person to a committee under this Part.

Matters of which the Minister must be satisfied before appointing

 (2) The Minister is to appoint a person as a member of the committee only if the Minister is satisfied that the person is qualified for appointment by virtue of his or her knowledge of, or experience in, one or more of the following fields:

 (a) business;

 (b) law, including the law relating to bankruptcy;

 (c) economics;

 (d) accounting;

 (e) public policy relating to bankruptcy.

50‑15  Single committee may consider more than one matter

  A single committee may be convened under this Part to consider one or more of the following:

 (a) a matter or matters relating to one applicant for registration as a trustee;