Corporations Regulations 2001

SCHEDULE 8A - DEED OF COMPANY ARRANGEMENT - PRESCRIBED PROVISIONS  

(regulation 5.3A.06)

11  

11   Committee of inspection  

For the purpose of advising and assisting the administrator of this deed, there may be a committee of inspection (the committee ) to which the following rules apply:

(a) the committee must consist of at least 3 and not more than 5 members;

(b) the creditors must appoint the members in a general meeting;

(c) a creditor is not entitled to have more than one representative (including the creditor himself or herself, if a natural person) on the committee;

(d) minutes of all resolutions and proceedings of each meeting of the committee must be made and duly entered in books to be provided from time to time for that purpose by the administrator under this deed;

(e) if the minutes of a meeting purport to be signed by the chairperson of the meeting at which the resolutions were passed or proceedings taken or by the chairperson of the next meeting of the committee, the minutes are prima facie evidence of the matters contained in them;

(f) unless the contrary is proved, the meeting is taken to have been duly had and convened and all resolutions passed and proceedings taken at the meeting are taken to have been duly passed and taken;

(g) a corporation (being otherwise qualified for membership of the committee) is not entitled to be a member of the committee but may appoint a person to represent it on the committee;

(h) subsection 548(3) and sections 549 , 550 and 551 of the Act apply, with such modifications as are necessary, to a committee of inspection established under this deed as if the references to the liquidator were references to the administrator of this deed and the references to contributories were deleted.