80‑20 Time for complying with reasonable80‑20 Time for complying with reasonable requests

80‑20 Time for complying with reasonable requests

(1) This section is made for the purposes of section 80‑45 of the Insolvency Practice Schedule (Bankruptcy). (2) Subject to subsections (3) and (5), if a committee of inspection makes a request for information or a report or document under section 80‑40 of the Insolvency Practice Schedule (Bankruptcy), the trustee must give the information, report or document within: (a) 5 business days after receiving the request; or (b) such later period as agreed with the committee of inspection. (3) If the trustee is reasonably satisfied that, due to the nature of the request, an extension of time is required to comply with it, the trustee may, by written notice, extend the period for compliance. (4) The notice must: (a) be given to the committee of inspection; and (b) specify the period within which the request will be complied with; and (c) specify the reasons for the extension. (5) This section does not apply if, under the Act or these Rules, it is not reasonable for the trustee to comply with the request.