Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p26
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 26/110)
Character Range: 219524–222297

entitled to possession otherwise than because of a lien, but the administrator is entitled to inspect, and make copies of, such books at any reasonable time.

"(3) The administrator of a company under administration may give to a person a written notice requiring the person to deliver to the

administrator, as specified in the notice, books so specified that are in the person's possession.

"(4) A notice under subsection (3) must specify a period of at least 3 business days as the period within which the notice must be complied with.

"(5) A person must comply with a notice under subsection (3) except so far as the person is entitled, as against the company and the administrator, to retain possession of the books.

Reports by administrator

"438D.(1) If it appears to the administrator of a company under administration that:

    (a)     a past or present officer, or a member, of the company may have been guilty of an offence in relation to the company; or

    (b)     a person who has taken part in the formation, promotion, administration, management or winding up of the company:

         (i) may have misapplied or retained, or may have become liable or accountable for, money or property (in Australia or elsewhere) of the company; or

         (ii) may have been guilty of negligence, default, breach of duty or breach of trust in relation to the company;

the administrator must:

  (c)     lodge a report about the matter as soon as practicable; and

    (d)     give the Commission such information, and such access to and facilities for inspecting and taking copies of documents, as the Commission requires.

"(2) The administrator may also lodge further reports specifying any other matter that, in his or her opinion, it is desirable to bring to the Commission's notice.

  "(3) If it appears to the Court:

    (a)     that a past or present officer, or a member, of a company under administration has been guilty of an offence in relation to the company; or

    (b)     that a person who has taken part in the formation, promotion, administration, management or winding up of a company under administration has engaged in conduct of a kind referred to in paragraph (1)(b) in relation to the company;

and that the administrator has not lodged a report about the matter, the Court may, on the application of an interested person or of its own motion, direct the administrator to lodge such a report.

"Division 5—Meeting of creditors decides company's future

Administrator to convene meeting and inform creditors

"439A.(1) The administrator of a company under administration must convene a meeting of the company's creditors within the convening period as fixed by subsection (5) or extended under subsection (6).

"(2) The meeting must be