Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 80 - Committees of inspection  

CLAUSE 80-35   FUNCTIONS OF COMMITTEE OF INSPECTION  

80-35(1)    
A committee of inspection has the following functions:

(a) to advise and assist the external administrator of the company;

(b) to give directions to the external administrator of the company;

(c) to monitor the conduct of the external administration of the company;

(d) such other functions as are conferred on the committee by this Act;

(e) to do anything incidental or conducive to the performance of any of the above functions.

80-35(2)    
An external administrator of a company must have regard to any directions given to the external administrator by the committee of inspection, but the external administrator is not required to comply with such directions.

80-35(3)    
If an external administrator of a company does not comply with a direction, the external administrator must make a written record of that fact, along with the external administrator ' s reasons for not complying with the direction.