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 4 - Administrator investigates company's affairs  

SECTION 438B   DIRECTORS TO HELP ADMINISTRATOR  

438B(1)    
As soon as practicable after the administration of a company begins, each director must:

(a)    deliver to the administrator all books in the director ' s possession that relate to the company, other than books that the director is entitled, as against the company and the administrator, to retain; and

(b)    if the director knows where other books relating to the company are - tell the administrator where those books are.

438B(2)    

Within 5 business days after the administration of a company begins or such longer period as the administrator allows, the directors must give to the administrator a report in the prescribed form about the company ' s business, property, affairs and financial circumstances.

438B(2A)    
The administrator must, within 5 business days after receiving a report under subsection (2) , lodge a copy of the report.

438B(3)    
A director of a company under administration must:

(a)    attend on the administrator at such times; and

(b)    give the administrator such information about the company ' s business, property, affairs and financial circumstances;

as the administrator reasonably requires.

438B(4)    

A person must not fail to comply with subsection (1) , (2) , (2A) or (3) .

438B(5)    

An offence based on subsection (4) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .

438B(6)    

Subsection (4) does not apply to the extent that the person has a reasonable excuse.

Note: A defendant bears an evidential burden in relation to the matter in subsection (6) , see subsection 13.3(3) of the Criminal Code .