Corporations Act 2001
SCHEDULE 2
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INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
ASIC may refer a registered liquidator to a committee convened under section 40-45 if ASIC:
(a) gives the liquidator a notice under section 40-40 (a show-cause notice); and
(b) either:
Note: See section 600K .
PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS Division 40 - Disciplinary and other action Subdivision E - Disciplinary action by committee SECTION 40-50 40-50 ASIC MAY REFER MATTERS TO THE COMMITTEEASIC may refer a registered liquidator to a committee convened under section 40-45 if ASIC:
(a) gives the liquidator a notice under section 40-40 (a show-cause notice); and
(b) either:
(i) does not receive an explanation within 20 business days after the notice is given; or
(ii) is not satisfied by the explanation.
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