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;  (b) a matter or matters relating to more than one applicant for registration as a trustee;  (c) a matter or matters relating to one registered trustee;  (d) a matter or matters relating to more than one registered trustee. 50‑20  Ongoing consideration of matters by committee   If a committee is convened under this Part to consider a matter:  (a) the committee’s powers, functions and duties in relation to the matter are not affected by a change in the membership of the committee; and  (b) the committee may adjourn its consideration of the matter, and may do so more than once; and  (c) the matter may be transferred to another committee with powers, functions and duties under this Part in relation to matters of that kind. 50‑25  Procedure and other rules relating to committees  (a) the manner in which the committees convened under this Part are to perform their functions, including:  (i) meetings of committees; and  (ii) the number of committee members required to constitute a quorum; and  (iii) disclosure of interests in a matter before a committee; and  (iv) the manner in which questions are to be decided by the committee; and  (b) the reconstitution of a committee; and  (c) the termination of the consideration of a matter by a committee, and the transfer of matters to another committee. 50‑30  Remuneration of committee members  (1) A member of a committee convened under this Part is entitled to receive the remuneration that is determined by the Remuneration Tribunal. If no determination of that remuneration by the Tribunal is in operation, the member is entitled to receive such remuneration as the Minister determines in writing.  (2) A member is entitled to receive such allowances as the Minister determines in writing.  (3) This section has effect subject to the Remuneration Tribunal Act 1973. 50‑35  Committee must only use information etc. for purposes for which disclosed  (1) A person commits an offence if:  (a) the person is or was a member of a committee convened under this Part; and  (b) information or a document is or was disclosed to the person for the purposes of exercising powers or performing functions as a member of the committee; and  (c) the person uses or discloses the information or document. Exception—information or document disclosed to ASIC or another committee etc.  (2) Subsection (1) does not apply if the information or document:  (a) is used or disclosed by the person for the purposes of exercising powers or performing functions as a member of the committee mentioned in subsection (1); or  (b) is disclosed:  (i) to ASIC to assist ASIC to exercise its powers or perform its functions under Chapter 5 of the Corporations Act 2001 or the Insolvency Practice Schedule (Corporations); or  (ii) to a committee convened under Part 2 of the Insolvency Practice Schedule (Corporations) to assist the committee to exercise its powers or perform its functions under that Part; or  (iii) to another committee convened under this Part to assist the committee to exercise its powers or perform its functions under this Part; or  (iv) to enable or assist a body prescribed for the purposes of this paragraph to perform its disciplinary function in relation to its members; or  (v) in order to enable or assist an authority or person in a State or Territory, or a foreign country, to perform or exercise a function or power that corresponds, or is analogous, to any of the committee’s or the Inspector‑General’s functions and powers; or  (vi) to a court or tribunal in relation to proceedings before the court or tribunal. Note 1: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code). Note 2: Chapter 5 of the Corporations Act 2001 deals with external administration of companies. Part 3—General rules relating to estate administrations