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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.9 - MISCELLANEOUS  

Division 1 - Examining a person about a corporation  

SECTION 597A  WHEN COURT IS TO REQUIRE AFFIDAVIT ABOUT CORPORATION'S EXAMINABLE AFFAIRS  

597A(1)  [When affidavit required]  


The Court is to require a person to file an affidavit about a corporation's examinable affairs if:


(a) an eligible applicant applies for the requirement to be made; and


(b) the Court is satisfied that the person is an officer or provisional liquidator of the corporation or was such an officer or provisional liquidator during or after the 2 years ending:

(i) if the corporation is under administration - on the section 513C day in relation to the administration; or

(ii) if the corporation has executed a deed of company arrangement that has not yet terminated - on the section 513C day in relation to the administration that ended when the deed was executed; or

(iii) if the corporation is being, or has been, wound up - when the winding up began; or

(iv) otherwise - when the application is made;
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even if the person has been summoned under section 596A or 596B for examination about those affairs.

597A(2)  [Affidavit requirement]  


The requirement is to:


(a) specify such of the information requested in the application as relates to examinable affairs of the corporation; and


(b) require the affidavit to set out the specified information; and


(c) require the affidavit to be filed on or before a specified day that is reasonable in the circumstances.

597A(3)  [Failure to comply with requirement]  

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A person must not refuse, or intentionally or recklessly fail, to comply with a requirement made of the person under subsection (1).

597A(3A)  [Reasonable excuse]  

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Subsection (3) does not apply to the extent that the person has a reasonable excuse.

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

597A(4)  [Affidavit already filed]  


The Court may excuse a person from answering a question at an examination about a corporation's examinable affairs if the person has already filed an affidavit under this section about that corporation's examinable affairs that sets out information that answers the question.

 



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