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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 438D  REPORTS BY ADMINISTRATOR  

438D(1)  [Offences in relation to company]  


If it appears to the administrator of a company under administration that:


(a) a past or present officer or employee, or a member, of the company may have been guilty of an offence in relation to the company; or
 View history reference


(b) a person who has taken part in the formation, promotion, administration, management or winding up of the company:


(i) may have misapplied or retained, or may have become liable or accountable for, money or property (in Australia or elsewhere) of the company; or

(ii) may have been guilty of negligence, default, breach of duty or breach of trust in relation to the company;

the administrator must:


(c) lodge a report about the matter as soon as practicable; and


(d) give ASIC such information, and such access to and facilities for inspecting and taking copies of documents, as ASIC requires.

438D(2)  [Further reports]  


The administrator may also lodge further reports specifying any other matter that, in his or her opinion, it is desirable to bring to ASIC's notice.

438D(3)  [Court may direct administrator to lodge report]  


If it appears to the Court:


(a) that a past or present officer or employee, or a member, of a company under administration has been guilty of an offence in relation to the company; or
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(b) that a person who has taken part in the formation, promotion, administration, management or winding up of a company under administration has engaged in conduct of a kind referred to in paragraph (1)(b) in relation to the company;

and that the administrator has not lodged a report about the matter, the Court may, on the application of an interested person, direct the administrator to lodge such a report.


 



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