Document ID: chunk:federal_register_of_legislation:C2025C00167:schedule:2:p36
Version: federal_register_of_legislation:C2025C00167
Segment Type: schedule
Provision Reference: sch 2 (pt 36/95)
Character Range: 954826–957614

(c) allow those books to be audited if required to do so; and
             (d) allow access to those books by creditors; and
             (e) give creditors and others requested information, documents and reports relating to the administration.
      The committee of inspection (if there is one) may also request information, documents and reports from the trustee under Division 80.
      If the trustee does not comply with a request, the Inspector‑General may direct the trustee to do so. If the trustee does not comply with the direction, the Inspector‑General may ask the Court to order compliance. Alternatively, the person who requested the information may ask the Court to order compliance with the request.

Subdivision B—Annual administration return

70‑5  Annual administration return

Application of this section
 (1) This section applies if a person is the trustee of a regulated debtor's estate during all or part of a financial year.

Annual administration return to be lodged
 (2) The person must lodge a return in relation to the person's administration of that estate during that year or part of that year (as the case requires).
 (3) The return must:
 (a) be in the approved form; and
 (b) be lodged with the Inspector‑General within 25 business days after the end of the financial year.

Late lodgement fee payable
 (4) If the person does not lodge the return within the period mentioned in paragraph (3)(b), the person must pay a late lodgement fee, determined by the Minister by legislative instrument, by way of penalty.

Subdivision C—Record‑keeping

70‑6  Subdivision applies to the Official Trustee
  This Subdivision applies to the Official Trustee in the same way as it applies to the trustee of a regulated debtor's estate.

70‑10  Administration books

Trustee must keep proper books
 (1) The trustee of a regulated debtor's estate must keep proper books in which the trustee must cause to be made:
 (a) entries or minutes of proceedings at meetings relating to the administration of the estate; and
 (b) such other entries as are necessary to give a complete and correct record of the trustee's administration of the estate.
 (2) The trustee must:
 (a) ensure that the books are available at the trustee's office for inspection; and
 (b) permit a creditor, or another person acting on the creditor's behalf, to inspect the books at all reasonable times.

Exception
 (3) Subsections (1) and (2) do not apply if the trustee has a reasonable excuse.

Offence
 (4) A person commits an offence of strict liability if:
 (a) the person is subject to a requirement under subsection (1) or (2); and
 (b) the person fails to comply with the requirement.
Penalty: 5 penalty units.
Note 1: A defendant bears an evidential burden in relation to the matter in subsection