Document ID: chunk:federal_register_of_legislation:C2004A02530:body:0:p18
Version: federal_register_of_legislation:C2004A02530
Segment Type: other
Provision Reference: 
Character Range: 43489–46325

person making a report and verifying it as required by sub-section (1) shall, subject to the regulations, be allowed, and shall be paid by the receiver (or his successor) out of his receipts, such costs and expenses incurred in and about the preparation and making of the report and the verification of the report as the receiver (or his successor) considers reasonable.
"(4) A person who fails to comply with a requirement made under sub-section (1) is guilty of an offence.
"(5) A reference in this section to the receiver's successor shall be read as including a reference to a continuing receiver.".

Lodging of accounts of receivers
57. Section 330 of the Principal Act is amended—
    (a) by omitting from sub-section (1) ", subject to sub-section (2)," and "and verified by a statement in writing";
    (b) by omitting sub-section (2); and
    (c) by omitting sub-section (6) and substituting the following sub-section:
    "(6) A receiver who fails to comply with a requirement made under this section is guilty of an offence.".

Powers of company to call meeting of creditors to appoint official manager
58. Section 335 of the Principal Act is amended—
    (a) by omitting from sub-section (4) "a statement of the affairs of the company in the prescribed form" and substituting "a report in the prescribed form as to the affairs of the company";
    (b) by omitting from sub-section (5) "the statement of the affairs of the company" and substituting "the report prepared in accordance with sub-section (4)";
    (c) by omitting from sub-section (6) "statement" and substituting "report";
    (d) by omitting sub-section (7) and substituting the following sub-section:
    "(7) A director of a company shall not furnish a certificate under sub-section (5) concerning a report prepared in accordance with sub-section (4) unless he has made such enquiries as are reasonably necessary to determine whether the report does or does not give a true and fair view of the state of affairs of the company as at the date to which it is made up.";
    (e) by omitting from paragraph (10) (b) "statement" (wherever occurring) and substituting "report";
    (f) by omitting from sub-section (11) "statement of affairs" and substituting "report";
    (g) by omitting from sub-section (11) "statement" (last occurring) and substituting "report"; and
    (h) by omitting from sub-section (15) "statement of affairs of the company" and substituting "report".

Report as to affairs of company to be submitted to meeting of creditors of company
59. Section 336 of the Principal Act is amended by omitting from paragraph (2) (a) "statement of affairs of the company" and substituting "report".

Notice of appointment and address of official manager
60. Section 340 of the Principal Act is amended by omitting from sub-section (1) "situation" (first