A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 4 - Administrator investigates company's affairs  

SECTION 438C  ADMINISTRATOR'S RIGHTS TO COMPANY'S BOOKS  

 View history reference

438C(1)  [Books, etc, may not be retained]  


A person is not entitled, as against the administrator of a company under administration:


(a) to retain possession of books of the company; or


(b) to claim or enforce a lien on such books;

but such a lien is not otherwise prejudiced.

438C(2)  [Secured creditors]  


Paragraph (1)(a) does not apply in relation to books of which a secured creditor of the company is entitled to possession otherwise than because of a lien, but the administrator is entitled to inspect, and make copies of, such books at any reasonable time.

438C(3)  [Books to be delivered to administrator]  


The administrator of a company under administration may give to a person a written notice requiring the person to deliver to the administrator, as specified in the notice, books so specified that are in the person's possession.

438C(4)  [Time for compliance]  


A notice under subsection (3) must specify a period of at least 3 business days as the period within which the notice must be complied with.

438C(5)  [Entitlement to retain possession of books]  


A person must comply with a notice under subsection (3).

438C(6)  [Limitation]  

 View history reference

Subsection (5) does not apply to the extent that the person is entitled, as against the company and the administrator, to retain possession of the books.

Note: A defendant bears an evidential burden in relation to the matter in subsection (6), see subsection 13.3(3) of the Criminal Code.

438C(7)  [Strict liability offence]  

 View history reference

An offence based on subsection (5) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page