Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
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Hide history noteAs soon as practicable after being appointed, a restructuring practitioner for a company must make a declaration of relevant relationships.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
453D(2)
The restructuring practitioner must give a copy of the declaration under subsection (1) to as many of the company ' s creditors as reasonably practicable.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
453D(3)
As soon as practicable after making a declaration under subsection (1) , the restructuring practitioner must lodge a copy of the declaration with ASIC.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
453D(4)
If: (a) at a particular time, the restructuring practitioner makes a declaration of relevant relationships under subsection (1) or this subsection; and (b) at a later time:
(i) the declaration has become out-of-date; or
(ii) the restructuring practitioner becomes aware of an error in the declaration;
the restructuring practitioner must, as soon as practicable, make a replacement declaration of relevant relationships.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
453D(5)
The restructuring practitioner must give a copy of the replacement declaration under subsection (4) to as many of the company ' s creditors as reasonably practicable.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
453D(6)
As soon as practicable after making a replacement declaration under subsection (4) , the restructuring practitioner must lodge a copy of the replacement declaration with ASIC.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
453D(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.
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