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CORPORATIONS ACT 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)    View history reference

Note: See section 600K.

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 70 - Information  

Subdivision B - Administration returns  

CLAUSE 70-5  ANNUAL ADMINISTRATION RETURN  

 View history reference

Application of this section

70-5(1)  

This section applies if a person is the external administrator of a company during all or part of an administration return year for the external administrator for the company.

70-5(2)  

However, this section does not apply if:


(a) the external administration of the company ends during the administration return year; and


(b) the person is the external administrator of the company when the external administration of the company ends.

Note: If a person is the external administrator of a company when the external administration of the company ends, the person must instead lodge a return under section 70-6.

Annual administration return to be lodged

70-5(3)  

The person must lodge a return in relation to the external administration of the company by the person during the year or part of the year (as the case requires).

70-5(4)  

The return must:


(a) be in the approved form; and


(b) be lodged with ASIC within 3 months after the end of the year.

Note: Fees for lodging documents and late lodgement fees may be imposed under the Corporations (Fees) Act 2001.

Meaning of administration return year

70-5(5)  

Each of the following is an administration return year for an external administrator for a company:


(a) the period of 12 months beginning on the day on which the person first began to be an external administrator of the company;


(b) each subsequent period of 12 months.

Notice of lodgement to be given

70-5(6)  

The person must give notice that the return has been lodged:


(a) in a members' voluntary winding up - to the members of the company; and


(b) in a creditors' voluntary winding up - to the creditors; and


(c) in a court-ordered winding up - to the creditors; and


(d) if the external administrator is appointed as a provisional liquidator - to the Court; and


(e) if the company is under administration or has executed a deed of company arrangement - to the company;

when next forwarding any report, notice of meeting, notice of call or dividend.

Note: For notification, see section 600G.

Returns for pooled groups

70-5(7)  

If 2 or more companies are members of a pooled group, then the returns under subsection (3) for those companies may be set out in the same document.

 



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