SECTION 668A COMPANY'S POWER TO DEAL WITH UNCLAIMED CONSIDERATION FOR COMPULSORY ACQUISITION
668A(1) Records of unclaimed compulsory acquisition consideration.
(a) the consideration paid (including any benefit accruing from the consideration and any property substituted for the whole or any part of that consideration); and
(b) the people who are entitled to that consideration; and
(c) any transfers of the consideration to the people entitled to it.
668A(2) [Retention of records]
(a) its registered office; or
(b) its principal place of business in this jurisdiction; or
(c) another place in this jurisdiction approved by ASIC.
668A(3) [Right to inspect records]
(a) if the company requires payment of an amount not exceeding the prescribed amount - within 7 days after the day on which the company receives that amount; or
(b) in any other case - within 7 days after the day on which the request is made.
668A(4) [Publication in the Gazette]
668A(5) [Strict liability offence]
Note: For strict liability, see section 6.1 of the Criminal Code.
S 668A(5) inserted by No 117 of 2001, s 3, Sch 1 (effective 15 December 2001).