Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 2   Amendments relating to the Insolvency Practice Schedule (Corporations)

Part 2   Amendments consequential on the introduction of the Insolvency Practice Schedule (Corporations)

Corporations Act 2001

99   At the end of Part 5.2

Add:

434H Regulations may provide for reporting to ASIC

(1) The regulations may provide for and in relation to the obligations of a controller, or a managing controller, of the property of a corporation:

(a) to give information; and

(b) to provide reports; and

(c) to produce documents;

to ASIC.

(2) Without limiting subsection (1), the regulations may provide for and in relation to:

(a) the manner and form in which information is to be given, a report provided or a document produced; and

(b) the timeframes in which information is to be given, a report provided or a document produced; and

(c) who is to bear the cost of giving information, providing a report or producing a document.