Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

Note: See section 600K .

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 80 - Committees of inspection  

CLAUSE 80-5   APPLICATION  

Application of whole of Division

80-5(1A)    

This Division does not apply to:

(a)    a company under restructuring; or

(b)    a company that has made a restructuring plan that has not yet terminated.

Application of sections 80-10 to 80-25

80-5(1)    
The rules in sections 80-10 to 80-25 apply if the external administrator of a company convenes a meeting of creditors for the purpose of determining either or both of the following:

(a) whether there is to be a committee of inspection for the company;

(b) if there is, or is to be, a committee of inspection - who are to be appointed members of the committee.

80-5(2)    
However, those rules do not apply if the company is a member of a pooled group.

Note: Committees of inspection for pooled groups are dealt with in sections 80-26 and 80-27 .