BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS  

Division 40 - Disciplinary and other action  

Subdivision D - Inspector-General may suspend or cancel registration  

SECTION 40-35   NOTICE OF SUSPENSION OR CANCELLATION  

Application of this section

40-35(1)  
This section applies if the Inspector-General decides under section 40-25 or 40-30 to suspend or cancel the registration of a person as a trustee. Inspector-General must give notice of decision

40-35(2)  
The Inspector-General must, within 10 business days after making the decision, give the person a written notice setting out the decision, and the reasons for the decision. When decision comes into effect

40-35(3)  
The decision comes into effect on the day after the notice is given to the person. Failure to give notice does not affect validity of decision

40-35(4)  
A failure by the Inspector-General to give the notice under subsection (2) within 10 business days does not affect the validity of the decision.




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