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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 3 - Liquidators  

SECTION 530B  LIQUIDATOR'S RIGHTS TO COMPANY'S BOOKS  

530B(1)  [Person cannot retain books]  


A person is not entitled, as against the liquidator of a company:


(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.

530B(2)  [Secured creditor's possession of books]  


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 liquidator is entitled to inspect, and make copies of, such books at any reasonable time.

530B(3)  [Hindrance or obstruction of liquidator]  

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A person must not engage in conduct that results in the hindering or obstruction of a liquidator of a company in obtaining possession of books of the company.

530B(3A)  [Limitation]  

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Subsection (3) does not apply if the person is entitled, as against the company and the liquidator, to retain possession of the books.

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

530B(4)  [Liquidator may require production of books]  


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

530B(5)  [Time to comply with notice]  


A notice under subsection (4) must specify a period of at least 3 days as the period within which the notice must be complied with.

530B(6)  [Duty to comply with notice]  

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A person must comply with a notice under subsection (4).

530B(6A)  [Limitation]  

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Subsection (6) does not apply to the extent that the person is entitled, as against the company and the liquidator, to retain possession of the books.

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

530B(6B)  [Strict liability offence]  

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An offence based on subsection (6) is an offence of strict liability.

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

530B(7)  [``liquidator'']  


In this section:

liquidator includes a provisional liquidator.

 



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