Corporations Act 2001
View history note
Hide history noteIf: (a) within 2 years before the commencement day, an event of a kind mentioned in subsection 35-1(1) of the Insolvency Practice Schedule (Corporations) occurs in relation to an old Act registrant; and (b) the old Act registrant has not already informed ASIC in writing of the event before the commencement day;
the old Act registrant must lodge with ASIC a notice, in the approved form, relating to the event.
[ CCH Note: S 1562(1) will be amended by No 69 of 2020, s 3, Sch 1[1313], by substituting " with the Registrar a notice relating to the event. The notice must meet any requirements of the data standards. " for " with ASIC a notice, in the approved form, relating to the event. " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
1562(2)
The notice must be lodged: (a) if the old Act registrant is or could reasonably be expected to be aware of the event on or before the commencement day - within one month after the commencement day; or (b) if paragraph (a) is not satisfied, but the old Act registrant is or could reasonably be expected to be aware of the event after the commencement day - within one month after the first day on which the old Act registrant is or could reasonably be expected to be aware of the event.
1562(3)
A person commits an offence if: (a) the person is subject to a requirement under subsection (1) within the period specified in subsection (2); and (b) the person intentionally or recklessly fails to comply with the requirement within that period.
Penalty: 100 penalty units.
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