Document ID: chunk:federal_register_of_legislation:C2024C00492:section:2:p5
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 2 (pt 5/45)
Character Range: 667122–669811

of the corporation immediately before deregistration; and
 (c) the person does not keep the corporation's books for 3 years after the deregistration.
Penalty: 5 penalty units.
 (6) Subsection (5) does not apply to books that a liquidator has to keep under section 70‑35 of Schedule 2 to the Corporations Act (as applied by section 526‑35 of this Act).
Note: A defendant bears an evidential burden in relation to the matter in subsection (6) (see subsection 13.3(3) of the Criminal Code).

Strict liability offences
 (7) An offence based on subsection (5) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

546‑25  What the Registrar does with the property
 (1) If property vested in the Registrar under subsection 546‑20(2) was held by the corporation on trust, the Registrar may:
 (a) continue to act as trustee; or
 (b) apply to a court for the appointment of a new trustee.
Note: Under paragraph (a), the Registrar may be able to transfer the property to a new trustee chosen in accordance with the trust instrument.
 (2) If the corporation did not hold the property on trust, the Registrar may:
 (a) dispose of or deal with the property as he or she sees fit; and
 (b) apply any money he or she receives to:
 (i) defray expenses incurred by the Registrar in exercising his or her powers in relation to the corporation under this Chapter; and
 (ii) make payments authorised by subsection (3).
The Registrar must deal with the rest of the property (if any) under Part 12‑3.

Obligations attaching to property
 (3) The property remains subject to all liabilities imposed on the property under a law and does not have the benefit of any exemption that the property might otherwise have because it is vested in the Registrar. These liabilities include a liability that:
 (a) is a charge or claim on the property; and
 (b) arises under a law that imposes rates, taxes or other charges.
 (4) The Registrar's obligation under subsection (3) is limited to satisfying the liabilities out of the corporation's property to the extent that the property is properly available to satisfy those liabilities.

Accounts
 (5) The Registrar must keep:
 (a) a record of property that he or she knows is vested in the Registrar under this Part; and
 (b) a record of his or her dealings with that property; and
 (c) accounts of all money received from those dealings; and
 (d) all accounts, vouchers, receipts and papers relating to the property and that money.

546‑30  Registrar's power to fulfil outstanding obligations of deregistered corporation
  The Registrar may do an act on behalf of the corporation or its liquidator if the Registrar is satisfied