BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 80 - Committees of inspection  

SECTION 80-25   APPOINTMENT OF COMMITTEE MEMBER BY EMPLOYEES  

80-25(1)  
Either:


(a) an employee of the regulated debtor; or


(b) the employees of the regulated debtor;

representing at least 50% in value of amounts owed to or in respect of employees by the regulated debtor, in respect of services rendered to or for the regulated debtor, may appoint a person as a member of a committee of inspection to represent the employees.

80-25(2)  
If an employee or a group of employees appoints a person under this section, the employee or group of employees may:


(a) remove the person as a member of the committee; and


(b) appoint another person to fill a vacancy in the office of that member of the committee.

80-25(3)  
An employee, acting either alone or with others, is not entitled to appoint a person as a member of a committee of inspection under subsection (1) if:


(a) the employee votes on a resolution to appoint or remove a member of the committee under section 80-15 ; or


(b) the employee, acting either alone or with others, appoints a member of the committee under subsection 80-20(1) ; or


(c) the employee, acting either alone or with others, has already appointed a member of the committee under subsection (1) of this section.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.