Document ID: chunk:federal_register_of_legislation:C2025C00185:section:347b
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 347B
Character Range: 1371106–1371747

347B  Notice to ASIC
 (1) If the directors of a company pass a negative solvency resolution under section 347A, the company must notify ASIC of that fact, in the prescribed form, within 7 days after the resolution is passed.
 (2) If:
 (a) subsection 347A(1) applies to the directors of a company; and
 (b) the directors have not passed a solvency resolution under section 347A within 2 months after a review date;
the company must notify ASIC of that fact, in the prescribed form, within 7 days after the end of the 2 month period following the review date.
 (3) An offence based on subsection (1) or (2) is an offence of strict liability.