Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p38
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 38/59)
Character Range: 104462–107135

fit, including:
 (a) the preparation and provision of a report on the audit; and
 (b) orders as to the costs of the audit.

70‑25  Trustee to comply with auditor requirements

Application of this section
 (1) This section applies if books are audited under section 70‑15 or 70‑20.

Trustee must give assistance etc.
 (2) The trustee of the estate must give to the person carrying out the audit such books, information and assistance as the person reasonably requires.

Exception
 (3) Subsection (2) does 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 (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 (3) (see subsection 13.3(3) of the Criminal Code).
Note 2: See also section 277B (about infringement notices).

70‑30  Transfer of books to new trustee

Application of this section
 (1) This section applies if:
 (a) a person (the former trustee) ceases to be the trustee of a regulated debtor's estate; and
 (b) a registered trustee (the new trustee) is appointed as trustee of the estate instead.

Transfer of books to new trustee
 (2) The former trustee must transfer to the new trustee, within the handover period, possession or control of any books relating to the administration of the estate that are in the former trustee's possession or control.
 (3) The handover period is:
 (a) the period of 10 business days beginning on the day after the new trustee is appointed; or
 (b) if another period is agreed between the former trustee and the new trustee—that other period.
 (4) The former trustee may take a copy of any part of the books before transferring possession or control of them to the new trustee.

New trustee must accept the books
 (5) The new trustee must take possession or accept control of any books relating to the administration of the regulated debtor's estate.

New trustee must allow inspection etc.
 (6) After possession or control of the books is transferred, the new trustee must allow the former trustee to inspect them at any reasonable time and take a copy of any part of the books.

Offence
 (7) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (2), (5) or (6); and
 (b) the person intentionally or recklessly fails to comply with the requirement.
Penalty: 50 penalty units.

Lien against books not prejudiced
 (8) If the new trustee is entitled to take possession or control of the books under this section:
 (a) a person is not entitled,