Document ID: chunk:federal_register_of_legislation:C2020A00130:clause:1_453d
Version: federal_register_of_legislation:C2020A00130
Segment Type: clause
Provision Reference: sch 1 cl 453D
Character Range: 7042–9301

453D  Declaration by restructuring practitioner—relevant relationships
 (1) As soon as practicable after being appointed, a restructuring practitioner must make a declaration of relevant relationships.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (2) The restructuring practitioner must give a copy of the declaration under subsection (1) to as many of the company's creditors as reasonably practicable.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (3) As soon as practicable after making a declaration under subsection (1), the restructuring practitioner must lodge a copy of the declaration with ASIC.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (4) If:
 (a) at a particular time, the restructuring practitioner makes a declaration of relevant relationships under subsection (1) or this subsection; and
 (b) at a later time:
 (i) the declaration has become out‑of‑date; or
 (ii) the restructuring practitioner becomes aware of an error in the declaration;
the restructuring practitioner must, as soon as practicable, make a replacement declaration of relevant relationships.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (5) The restructuring practitioner must give a copy of the replacement declaration under subsection (4) to as many of the company's creditors as reasonably practicable.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (6) As soon as practicable after making a replacement declaration under subsection (4), the restructuring practitioner must lodge a copy of the replacement declaration with ASIC.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (7) In a prosecution for an offence constituted by a failure to include a particular matter in a declaration under this section, it is a defence if the defendant proves that:
 (a) the defendant made reasonable enquiries; and
 (b) after making these enquiries, the defendant had no reasonable grounds for believing that the matter should have been included in the declaration.

Subdivision C—Role of the restructuring practitioner during restructuring