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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.2 - RECEIVERS, AND OTHER CONTROLLERS, OF PROPERTY OF CORPORATIONS  

SECTION 421A  MANAGING CONTROLLER TO REPORT WITHIN 2 MONTHS ABOUT CORPORATION'S AFFAIRS  

421A(1)  [Obligation to prepare report]  


A managing controller of property of a corporation must prepare a report about the corporation's affairs that is in the prescribed form and is made up to a day not later than 30 days before the day when it is prepared.

421A(2)  [Lodgment]  


The managing controller must prepare and lodge the report within 2 months after the control day.

421A(3)  

(Repealed by No 132 of 2007, s 3, Sch 1, Pt 3[58] (effective 31 December 2007).)

421A(4)  [Prejudicial information excluded]  


If, in the managing controller's opinion, it would seriously prejudice:


(a) the corporation's interests; or


(b) the achievement of the objectives for which the controller was appointed, or entered into possession or assumed control of property of the corporation, as the case requires;

if particular information that the controller would otherwise include in the report were made available to the public, the controller need not include the information in the report.

421A(5)  [Summary of excluded information]  


If the managing controller omits information from the report as permitted by subsection (4), the controller must include instead a notice:


(a) stating that certain information has been omitted from the report; and


(b) summarising what the information is about, but without disclosing the information itself.

 



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