CORPORATIONS ACT 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

Note: See section 600K .

PART 1 - INTRODUCTION  

Division 1 - Introduction  

CLAUSE 1-1   OBJECT OF THIS SCHEDULE  

1-1(1)  
The object of this Schedule is to ensure that any person registered as a liquidator:


(a) has an appropriate level of expertise; and


(b) behaves ethically; and


(c) maintains sufficient insurance to cover his or her liabilities in practising as a registered liquidator.

1-1(2)  
The object of this Schedule is also:


(a) to regulate the external administration of companies consistently, unless there is a clear reason to treat a matter that arises in relation to a particular kind of external administration differently; and


(b) to regulate the external administration of companies to give greater control to creditors.


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