Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 3 · Official Assignee, Official Receiver and Insolvency Practitioners
58. Power to issue written directions
Feedback & supportWhere any licensee contravenes, or is likely to contravene, any provision of this Division or any condition of the licence, the licensing officer may, if the licensing officer thinks it necessary or expedient for the purposes of administration of this Division, issue a written direction to the licensee to require the licensee to do either or both of the following:
licensee
“licensed insolvency practitioner” and “licensee” mean the holder of a licence granted under section 51;
to comply with, or cease the contravention of, that provision or condition;
to make good any default arising from the contravention.
The licensing officer may at any time vary, rescind or revoke any written direction issued under subsection (1).
officer
“officer”, in relation to a corporation, includes —(a)a director or secretary of the corporation, or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)a liquidator of a company appointed in a voluntary winding up,but does not include —(d)a receiver who is not also a manager;(e)a receiver and manager appointed by the Court;(f)a liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed under Part 7;
Any licensee who fails to comply with any requirement specified in a written direction issued under subsection (1) shall be guilty of an offence and shall be liable on conviction —
to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both; and
in the case of a continuing offence, to a further fine not exceeding $1,000 for every day or part of a day during which the offence continues after conviction.