Document ID: chunk:federal_register_of_legislation:C2025C00182:section:39c:p1
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 39C (pt 1/3)
Character Range: 328385–331149

39C  ASIC may give information and books in relation to Chapter 5 bodies corporate

Application of this section
 (1) This section applies if ASIC obtains or generates information or books in the exercise of its powers or the performance of its functions in relation to:
 (a) a person in that person's capacity as a registered liquidator; or
 (b) the external administration of a company; or
 (c) the control of property of a corporation.

ASIC may give administration information to certain persons
 (2) ASIC may give the information, all or part of the books or copies of all or part of the books (administration information) to one or more of the following:
 (a) if the administration information relates to a corporation—the corporation;
 (b) if the administration information relates to a company that is or has been under external administration—a person who is or has at any time been:
 (i) the external administrator of the company; or
 (ii) a related entity of the company; or
 (iii) an officer of the company; or
 (iv) a creditor of the company; or
 (v) a member of a committee of inspection in the external administration of the company;
 (c) if the administration information relates to property of a corporation that is or has been under control—a person who is or has at any time been:
 (i) the controller of the property; or
 (ii) a related entity of the corporation; or
 (iii) an officer of the corporation; or
 (iv) a creditor of the corporation;
 (d) if the administration information relates to a company that is or has been under external administration—a person who is carrying out, or has at any time carried out, a review of the external administration of the company under Subdivision C of Division 90 of Schedule 2 to the Corporations Act.

ASIC may only give administration information in certain circumstances
 (3) ASIC must not give administration information to a person under this section unless ASIC is satisfied that:
 (a) the administration information is relevant to the person; or
 (b) the administration information is relevant to the exercise of a power or performance of a function under the Corporations Act by the person in relation to:
 (i) a registered liquidator; or
 (ii) the external administration of a company; or
 (iii) the control of property of a corporation; or
 (c) it is otherwise reasonable to give the administration information to the person.

Process to be observed before administration information given
 (4) Before giving administration information to a person under this section, ASIC must give the external administrator of the company or the controller of the property of the corporation (as the case requires) notice in writing:
 (a) identifying:
 (i) the administration information that ASIC proposes