THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 3 - Liquidators

SECTION 530B   LIQUIDATOR'S RIGHTS TO COMPANY'S BOOKS  

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530B(1)  [Person cannot retain books]  

A person is not entitled, as against the liquidator of a company:

(a)  to retain possession of books of the company; or

(b)  to claim or enforce a lien on such books;

but such a lien is not otherwise prejudiced.

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530B(2)  [Secured creditor's possession of books]  

Paragraph (1)(a) does not apply in relation to books of which a secured creditor of the company is entitled to possession otherwise than because of a lien, but the liquidator is entitled to inspect, and make copies of, such books at any reasonable time.

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530B(3)  [Hindrance or obstruction of liquidator]  

A person must not hinder or obstruct a liquidator of a company in obtaining possession of books of the company, unless the person is entitled, as against the company and the liquidator, to retain possession of the books.

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530B(4)  [Liquidator may require production of books]  

The liquidator of a company may give to a person a written notice requiring the person to deliver to the liquidator, as specified in the notice, books so specified that are in the person's possession.

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530B(5)  [Time to comply with notice]  

A notice under subsection (4) must specify a period of at least 3 days as the period within which the notice must be complied with.

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530B(6)  [Duty to comply with notice]  

A person must comply with a notice under subsection (4) except so far as the person is entitled, as against the company and the liquidator, to retain possession of the books.

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530B(7)  [``liquidator'']  

In this section:

``liquidator'' includes a provisional liquidator.
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