IPR 75-200 Notice requirements for unreasonable directions

(1) This section is made for the purposes of section 80-27(3) of the Insolvency Practice Schedule (Corporations) and applies instead of section 75-250 in relation to directions to convene a meeting of the members of a pooled group if:

(a) a direction to convene a meeting of the members of a pooled group is given to the external administrator under Division 80 of the Insolvency Practice Schedule (Corporations); and

(b) under the Act or these Rules, it is not reasonable for the external administrator to comply with the direction.

(2) The external administrator must:

(a) notify the person or body giving the direction that it is not reasonable for the external administrator to comply with the direction, and of the reasons why it is not reasonable; and

(b) make a written record in the books required to be kept under section 70 10 of the Insolvency Practice Schedule (Corporations) of the fact that the direction was not complied with, and of the reasons.