Corporations Amendment (Insolvency) Act 2007 (132 of 2007)
Schedule 2 Deterring corporate misconduct
Australian Securities and Investments Commission Act 2001
1 After subsection 13(2)
Insert:
(3) If ASIC has reason to suspect that a liquidator registered under Division 2 of Part 9.2 of the Corporations Act:
(a) has not, or may not have, faithfully performed his or her duties; or
(b) is not, or may not be, faithfully performing his or her duties;
ASIC may make such investigation as it thinks expedient for the due administration of the corporations legislation (other than the excluded provisions).
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