Document ID: chunk:federal_register_of_legislation:F2022C01140:body:0:p24
Version: federal_register_of_legislation:F2022C01140
Segment Type: other
Provision Reference: 
Character Range: 69712–72560

(iii) the likelihood of creditors receiving a dividend before the affairs of the company are fully wound up; and
 (b) the report must be provided within 3 months after the date of the liquidator's appointment; and
 (c) a copy of the report must be lodged with ASIC at the same time as it is provided to the creditors.
 (3) If the company is not following the simplified liquidation process, or has ceased to follow the simplified liquidation process:
 (a) the liquidator must provide to the creditors of the company a report containing information on the following:
 (i) the estimated amounts of assets and liabilities of the company;
 (ii) inquiries relating to the winding up of the company that have been undertaken to date;
 (iii) further inquiries relating to the winding up of the company that may need to be undertaken;
 (iv) what happened to the business of the company;
 (v) the likelihood of creditors receiving a dividend before the affairs of the company are fully wound up;
 (vi) possible recovery actions; and
 (b) the report must be provided before:
 (i) the end of the period of 3 months after the date of the liquidator's appointment; or
 (ii) the end of the period of 1 month after the date on which the company ceased to follow the simplified liquidation process;
  whichever occurs later; and
 (c) a copy of the report must be lodged with ASIC in the approved form at the same time as it is provided to the creditors.

       70‑45  Reports about remuneration to be given before remuneration determinations are made

        (1) This section is made for the purposes of section 70‑50 of the Insolvency Practice Schedule (Corporations).

       Reporting requirements when remuneration to be determined by committee of inspection

        (2) Before a remuneration determination for an external administrator of a company is made by a committee of inspection under section 60‑10 of the Insolvency Practice Schedule (Corporations), the external administrator must:
           (a) prepare a report setting out such matters as will enable the committee of inspection to make an informed assessment as to whether the proposed remuneration is reasonable; and
           (b) give a copy of the report to each member of the committee of inspection at the same time as the member is notified of the relevant meeting of the committee.

       Reporting requirements when remuneration to be determined by creditors

        (3) Before a remuneration determination for an external administrator of a company is made by resolution of the creditors under section 60‑10 of the Insolvency Practice Schedule (Corporations), the external administrator must:
           (a) prepare a report setting out such matters as will enable the company's creditors to make an informed assessment as to whether the proposed remuneration is reasonable; and