Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS  

Division 40 - Disciplinary and other action  

Subdivision E - Disciplinary action by committee  

SECTION 40-45   ASIC MAY CONVENE A COMMITTEE  

40-45(1)    
ASIC may convene a committee to make a decision of a kind mentioned in section 40-55 in relation to a registered liquidator, or registered liquidators.

40-45(2)    
The committee must consist of:

(a) ASIC; and

(b) a registered liquidator chosen by a prescribed body; and

(c) a person appointed by the Minister.

Note 1: Section 50-5 sets out the knowledge and experience that a prescribed body must be satisfied a person has before making an appointment under paragraph (2)(b).