THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

Division 4 - Administrator investigates company's affairs

SECTION 438D   REPORTS BY ADMINISTRATOR  

438D(1)  [Offences in relation to company]  

If it appears to the administrator of a company under administration that:

(a)  a past or present officer, or a member, of the company may have been guilty of an offence in relation to the company; or

(b)  a person who has taken part in the formation, promotion, administration, management or winding up of the company:

(i) may have misapplied or retained, or may have become liable or accountable for, money or property (in Australia or elsewhere) of the company; or

(ii) may have been guilty of negligence, default, breach of duty or breach of trust in relation to the company;

the administrator must:

(c)  lodge a report about the matter as soon as practicable; and

(d)  give the Commission such information, and such access to and facilities for inspecting and taking copies of documents, as the Commission requires.

438D(2)  [Further reports]  

The administrator may also lodge further reports specifying any other matter that, in his or her opinion, it is desirable to bring to the Commission's notice.

438D(3)  [Court may direct administrator to lodge report]  

If it appears to the Court:

(a)  that a past or present officer, or a member, of a company under administration has been guilty of an offence in relation to the company; or

(b)  that a person who has taken part in the formation, promotion, administration, management or winding up of a company under administration has engaged in conduct of a kind referred to in paragraph (1)(b) in relation to the company;

and that the administrator has not lodged a report about the matter, the Court may, on the application of an interested person or of its own motion, direct the administrator to lodge such a report.