BANKRUPTCY ACT 1966
Note: See section 4A .PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS
Creditors of a regulated debtor ' s estate may decide that there is to be a committee of inspection to monitor the administration of the estate and to give assistance to the trustee.
Appointing the committee
Each of the following have rights to appoint members to the committee (and to remove those members and fill the vacancy):
Once a person exercises a right in one capacity to appoint a member, the person cannot exercise a right in another capacity to do so. A person can exercise the right in a particular capacity to appoint only one person (unless the person is filling a vacancy in that appointment).
Procedures and powers
This Division also deals with the procedures and powers of committees of inspection (including directing that information, documents and reports be provided by the trustee and obtaining specialist advice).
The trustee of a regulated debtor ' s estate must have regard to directions of the committee but is not obliged to comply.
The Court may inquire into and make orders about the conduct of committees of inspection.