S 155H repealed by No 11 of 2016, s 3 and Sch 1 item 47, effective 1 March 2017. S 155H formerly read:
SECTION 155H CONSIDERATION OF INVOLUNTARY TERMINATION OF REGISTRATION
155H(1)
[Justification of continued registration]
The Inspector-General may ask a registered trustee to give the Inspector-General a written explanation why the trustee should continue to be registered, if the Inspector-General believes that:
(a)
the trustee no longer has a qualification or ability that is prescribed by the regulations made for the purposes of paragraph 155A(2)(a); or
(aa)
the trustee no longer has the ability (including knowledge) to perform satisfactorily the duties of a registered trustee; or
(b)
the trustee has been convicted of an offence involving fraud or dishonesty since registration as a trustee; or
(c)
the trustee is not insured against liabilities that the trustee may incur, or has incurred, working as a registered trustee; or
(d)
the trustee is no longer practising as a registered trustee; or
(e)
the trustee has contravened any conditions imposed by the committee on the trustee
'
s practice; or
(f)
the trustee has failed to exercise powers of a registered trustee properly or has failed to carry out the duties of a registered trustee properly; or
(fa)
if the trustee is or was the administrator of a debt agreement
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the trustee has failed to properly carry out the duties of an administrator in relation to a debt agreement; or
(g)
the trustee has failed to comply with a standard prescribed for the purposes of subsection (5).
History
S 155H(1) amended by No 44 of 2007, s 3 and Sch 1 item 12, by inserting para (fa) after para (f), effective 11 April 2007.
S 155H(1) amended by No 80 of 2004, s 3 and Sch 3 item 1, by inserting para (g) at the end, effective 1 December 2004.
S 155H(1) amended by No 131 of 2002, s 3 and Sch 1 item 136, by inserting para (aa), effective 5 May 2003.
155H(2)
[Committee consideration]
If the Inspector-General does not receive an explanation within a reasonable time, or is not satisfied by the explanation, the Inspector-General must convene a committee to consider whether the trustee should continue to be registered.
155H(3)
[Committee composition]
The committee must consist of:
(a)
the Inspector-General; and
(b)
an APS employee; and
(c)
a registered trustee chosen by the Insolvency Practitioners
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Association of Australia (A.C.N. 002 472 362).
History
S 155H(3) amended by No 131 of 2002, s 3 and Sch 1 item 137, by substituting
"
APS employee
"
for
"
officer of the Department
"
in para (b), effective 5 May 2003.
155H(4)
[Matters to be considered]
In considering whether the trustee should continue to be registered, the committee must take into account the matters mentioned in paragraphs (1)(a) to (g).
Note:
The regulations may provide for the way in which the committee must do its work: see section 315.
History
S 155H(4) amended by No 80 of 2004, s 3 and Sch 3 item 2, by substituting
"
paragraphs (1)(a) to (g)
"
for
"
paragraphs (1)(a) to (f)
"
, effective 1 December 2004.
155H(5)
[Regulations]
The regulations may prescribe standards applicable to the exercise of powers, or the carrying out of duties, of registered trustees.
History
S 155H(5) inserted by No 80 of 2004, s 3 and Sch 3 item 3, effective 1 December 2004.
S 155H inserted by No 44 of 1996, Sch 1, Pt 1(283).
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