Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p44
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 44/73)
Character Range: 6423288–6426062

subsection (1), the books may be destroyed within the retention period:
 (a) in the case of a members' voluntary winding up—as the company by resolution directs; and
 (b) in the case of a creditor's voluntary winding up or a court‑ordered winding up:
 (i) if there is a committee of inspection—as the committee directs; and
 (ii) otherwise—as the creditors by resolution direct; and
 (c) if the external administrator is appointed as a provisional liquidator—as the Court directs;
if ASIC consents to the destruction.
Note: This subsection does not apply for a winding up of a sub‑fund of a CCIV: see section 1237P.

Destruction of books at end of retention period
 (4) The external administrator may destroy the books at the end of the retention period.
Note: This subsection does not apply for a winding up of a sub‑fund of a CCIV: see section 1237P.

Offence
 (5) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1); and
 (b) the person intentionally or recklessly fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matters in subsections (2) and (3) (see subsection 13.3(3) of the Criminal Code).

Relationship with other laws
 (6) Subsections (3) and (4) do not apply to the extent that the external administrator is under an obligation to retain the books, or a part of the books, under another provision of this Act or under any other law.

70‑36  Books of company in external administration—evidence
  If a company is in external administration, all books of the company, and of the external administrator of the company, that are relevant to affairs of the company at or after the start of the external administration are, as between the contributories of the company, prima facie evidence of the truth of all matters purporting to be recorded in those books.

Subdivision D—Giving information etc. to creditors and others

70‑40  Right of creditors to request information etc. from external administrator
 (1) The creditors may by resolution request the external administrator of a company to:
 (a) give information; or
 (b) provide a report; or
 (c) produce a document;
to the creditors.
 (2) The external administrator must comply with the request unless:
 (a) the information, report or document is not relevant to the external administration of the company; or
 (b) the external administrator would breach his or her duties in relation to the external administration of the company if the external administrator complied with the request; or
 (c) it is otherwise not reasonable for the external administrator to comply with the request.
 (3) The Insolvency Practice Rules may prescribe circumstances in which it is, or is not, reasonable