Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p44
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 44/60)
Character Range: 293587–296154

the relation‑back day; and
 (c) no creditor under the transaction is a related entity of the company.
 (4) This subregulation is satisfied if:
 (a) the company is subject to the simplified liquidation process; and
 (b) the transaction was entered into, or an act was done for the purposes of giving effect to it:
 (i) during the 3 months ending on the relation‑back day; or
 (ii) after that day but on or before the day when the winding up began; and
 (c) either:
 (i) the transaction results in the creditor receiving from the company no more than $30,000 in value; or
 (ii) if the transaction forms part of a series of related transactions, all of the related transactions result in the creditor receiving from the company no more than $30,000 in value; and
 (d) no creditor under the transaction is a related entity of the company.

5.5.05  Reports by liquidator
 (1) This regulation is made for the purposes of paragraph 500AE(3)(f) of the Act and applies in relation to the liquidator of a company that is subject to the simplified liquidation process.
 (2) If, in the opinion of the liquidator, there are reasonable grounds to believe that:
 (a) a past or present officer or employee, or a member or contributory, of the company; or
 (b) a person who has taken part in the formation, promotion, administration, management or winding up of the company;
may have engaged in conduct constituting an offence under a law of the Commonwealth or a State or Territory in relation to the company that has had, or is likely to have, a material adverse effect on the interests of the creditors as a whole or of a class of creditors as a whole, the liquidator must:
 (c) as soon as practicable, and in any event within 6 months, after first forming the opinion, lodge with ASIC a report in the prescribed form (if any) with respect to the matter and state in the report whether the liquidator proposes to make an application for an examination or order under section 597 of the Act; and
 (d) give ASIC such information, and give to it such access to and facilities for inspecting and taking copies of any documents, as ASIC requires.
 (3) The liquidator may also, if the liquidator thinks fit, lodge further reports specifying any other matter that, in the liquidator's opinion, it is desirable to bring to the notice of ASIC.
 (4) If it appears to the Court, in the course of winding up a company, that:
 (a) a person mentioned in paragraph (2)(a) or (b) has engaged in conduct constituting an offence under a law of the Commonwealth or a State or Territory in relation to