CORPORATIONS ACT 2001
Note: See section 600K .PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS Division 40 - Disciplinary and other action Subdivision E - Disciplinary action by committee CLAUSE 40-45 ASIC MAY CONVENE A COMMITTEE 40-45(1)
ASIC may convene a committee to make a decision of a kind mentioned in section 40-55 in relation to a registered liquidator, or registered liquidators. 40-45(2)
The committee must consist of:
(a) ASIC; and
(b) a registered liquidator chosen by a prescribed body; and
(c) a person appointed by the Minister.
Note 1: Section 50-5 sets out the knowledge and experience that a prescribed body must be satisfied a person has before making an appointment under paragraph (2)(b).
Note 2: Section 50-10 sets out the matters of which the Minister must be satisfied before making an appointment under paragraph (2)(c).