THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.2 - RECEIVERS, AND OTHER CONTROLLERS, OF PROPERTY OF CORPORATIONS

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SECTION 430   CONTROLLER MAY REQUIRE REPORTS  

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430(1)  [Power to require report]  

A controller of property of a corporation may, by notice given to the person or persons, require one or more persons included in one or more of the following classes of persons to make out as required by the notice, verify by a statement in writing in the prescribed form, and submit to the controller, a report, containing such information as is specified in the notice as to the affairs of the corporation or as to such of those affairs as are specified in the notice, as at a date specified in the notice:

(a)  persons who are or have been officers of the corporation;

(b)  where the corporation was incorporated within one year before the control day - persons who have taken part in the formation of the corporation;

(c)  persons who are employed by the corporation or have been so employed within one year before the control day and are, in the opinion of the controller, capable of giving the information required;

(d)  persons who are, or have been within one year before the control day, officers of, or employed by, a corporation that is, or within that year was, an officer of the corporation.

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430(2)  [Specification of information required]  

Without limiting the generality of subsection (1), a notice under that subsection may specify the information that the controller requires as to affairs of the corporation by reference to information that this Law requires to be included in any other report, statement or notice under this Law.

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430(3)  [Costs and expenses]  

A person making a report and verifying it as required by subsection (1) shall, subject to the regulations, be allowed, and shall be paid by the controller (or the controller's successor) out of the controller's receipts, such costs and expenses incurred in and about the preparation and making of the report and the verification of the report as the controller (or the controller's successor) considers reasonable.

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430(4)  [Duty to comply]  

A person shall comply with a requirement made under subsection (1).

430(5)  [Reference to ``successor'']  

A reference in this section to the controller's successor includes a reference to a continuing controller.

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