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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.7B - RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY  

Division 3 - Director's duty to prevent insolvent trading  

SECTION 588HA  REVIEW RELATING TO SAFE HARBOUR  

 View history reference

588HA(1)  

The Minister must cause an independent review of the following matters to be undertaken as soon as practicable after the last day of the 2 year period commencing on the commencement of this section:


(a) the impact of the availability of the safe harbour to directors of companies on:


(i) the conduct of directors; and

(ii) the interests of creditors and employees of those companies;


(b) any other matters the Minister considers relevant.

588HA(2)  

The review must be undertaken by 3 persons who, in the Minister's opinion, possess appropriate qualifications to undertake the review.

588HA(3)  

The persons who undertake the review must give the Minister a written report of the review.

588HA(4)  

The Minister must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the day on which the report is given to the Minister.

588HA(5)  

The report is not a legislative instrument.


 



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