Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p40
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 40/71)
Character Range: 322854–325689

198G deals with powers of officers etc. while a company under external administration.
 (4) The Court may make such orders in relation to the audit as it thinks fit, including:
 (a) the preparation and provision of a report on the audit; and
 (b) orders as to the costs of the audit.

70‑25  External administrator to comply with auditor requirements

Application of this section
 (1) This section applies if books are audited under section 70‑15 or 70‑20.

External administrator must give assistance etc.
 (2) The external administrator must give the auditor such books, information and assistance as the auditor reasonably requires.

Exception
 (3) Subsection (2) does not apply if the external administrator has a reasonable excuse.

Offence
 (4) A person commits an offence of strict liability if:
 (a) the person is subject to a requirement under subsection (2); and
 (b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in subsection (3) (see subsection 13.3(3) of the Criminal Code).

70‑30  Transfer of books to new administrator

Application of this section
 (1) This section applies if:
 (a) a person (the former administrator) ceases to be the external administrator of a company; and
 (b) ASIC has not issued a notice to the former administrator under section 70‑31; and
 (c) a registered liquidator (the new administrator) is appointed as external administrator of the company instead.

Transfer of books to new administrator
 (2) The former administrator must transfer to the new administrator, within the handover period, possession or control of any books relating to the external administration of the company that are in the former administrator's possession or control.
 (3) The handover period is:
 (a) the period of 10 business days beginning on the day after the new administrator is appointed; or
 (b) if another period is agreed between the former administrator and the new administrator—that other period.
 (4) The former administrator may take a copy of any part of the books before transferring possession or control of them to the new administrator.

New administrator must accept the books
 (5) The new administrator must take possession or accept control of any books relating to the external administration of the company.

New administrator must allow inspection etc.
 (6) After possession or control of the books is transferred, the new administrator must allow the former administrator to inspect them at any reasonable time and take a copy of any part of the books.

Offence
 (7) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (2), (5) or (6); and
 (b) the person intentionally or recklessly fails to comply with the requirement.
Penalty: 50 penalty units.