On 28 February 2023, a liquidator disciplinary committee (the Committee) decided that Cameron Lindsay Duncan’s registration as a liquidator should be cancelled.

ASIC’s referral to the Committee alleged Mr Duncan no longer had the qualifications, experience, knowledge and abilities prescribed under the Corporations Act 2001 (the Act), and that he is not a resident in Australia or another prescribed country. The Committee’s decision was based on the first of those allegations. ASIC has given effect to that decision.

The Committee determined that its report on Mr Duncan’s matter should not be published by ASIC. ASIC will not comment further on the reasons for the Committee’s decision.

Background

Under Schedule 2 of the Act – the Insolvency Practice Schedule (Corporations), ASIC may convene a committee to decide whether to take disciplinary action against a registered liquidator.

Committees are comprised of an ASIC staff member, a registered liquidator (nominated by ARITA), and a person nominated by the Minister. ASIC must give effect to decisions made by liquidator committees.

ASIC must also include particulars of disciplinary action taken against a registered liquidator on the Register of Liquidators. Those particulars include the basis on which ASIC refers matters to a committee.