Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

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

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 2 - Appointment of administrator and first meeting of creditors  

SECTION 436DA   DECLARATIONS BY ADMINISTRATOR - INDEMNITIES AND RELEVANT RELATIONSHIPS  

Scope

436DA(1)    
This section applies to an administrator appointed under section 436A , 436B or 436C .

Declaration of relationships and indemnities

436DA(2)    
As soon as practicable after being appointed, the administrator must make:

(a)    a declaration of relevant relationships; and

(b)    a declaration of indemnities.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

Notification of creditors

436DA(3)    
The administrator must:

(a)    give a copy of each declaration under subsection (2) to as many of the company ' s creditors as reasonably practicable; and

(b)    do so at the same time as the administrator gives those creditors notice of the meeting referred to in section 436E .

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

436DA(4)    
The administrator must table a copy of each declaration under subsection (2) at the meeting referred to in section 436E .

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

436DA(4A)    

As soon as practicable after making a declaration under subsection (2) , the administrator must lodge a copy of the declaration with ASIC.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

Updating of declaration

436DA(5)    
If:

(a)    at a particular time, the administrator makes:

(i) a declaration of relevant relationships; or

(ii) a declaration of indemnities;

under subsection (2) or this subsection; and

(b)    at a later time:

(i) the declaration has become out-of-date; or

(ii) the administrator becomes aware of an error in the declaration;

the administrator must, as soon as practicable, make:

(c)    if subparagraph (a)(i) applies - a replacement declaration of relevant relationships; or

(d)    if subparagraph (a)(ii) applies - a replacement declaration of indemnities.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

436DA(6)    
The administrator must table a copy of a replacement declaration under subsection (5) :

(a)    

if:

(i) there is a committee of inspection; and

(ii) the next meeting of the committee of inspection occurs before the next meeting of the company ' s creditors;

at the next meeting of the committee of inspection; or

(b)    in any other case - at the next meeting of the company ' s creditors.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

436DA(6A)    
As soon as practicable after making a replacement declaration under subsection (5) , the administrator must lodge a copy of the replacement declaration with ASIC.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

Defence

436DA(7)    
In a prosecution for an offence constituted by a failure to include a particular matter in a declaration under this section, it is a defence if the defendant proves that:

(a)    the defendant made reasonable enquiries; and

(b)    after making these enquiries, the defendant had no reasonable grounds for believing that the matter should have been included in the declaration.