CORPORATIONS ACT 2001
|PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS
|Division 70 - Information
|Subdivision C - Record-keeping
External administrator must keep proper books
An external administrator of a company must keep proper books in which the external administrator must cause to be made:
(a) entries or minutes of proceedings at meetings relating to the external administration of the company; and
(b) such other entries as are necessary to give a complete and correct record of the external administrator's administration of the company's affairs.
The external administrator must:
(a) ensure that the books are available at the external administrator's office for inspection; and
(b) permit a creditor or contributory, or another person acting on the creditor's or contributory's behalf, to inspect the books at all reasonable times.
Subsections (1) and (2) do not apply if the external administrator has a reasonable excuse.
A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1) or (2); and
(b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in subsection (3) (see subsection 13.3(3) of the Criminal Code).