Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p34
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 34/60)
Character Range: 268478–271311

had been passed on the day on which the declaration is given; and
 (iii) the company were under restructuring immediately before the company passed the resolution; and
 (iv) the relation‑back day were the day on which the restructuring of the company began;
  other than a transaction that would be an unfair preference; and
 (c) state whether, in the directors' opinion, there are reasonable grounds to believe that the eligibility criteria for restructuring were met in relation to the company at the time the restructuring began, and set out the reasons for that opinion.
Note: A declaration must not be false or misleading in a material particular, or omit anything that would render it misleading in a material respect: see section 1308 of the Act.
 (3) The declaration must be signed by each director of the company.

5.3B.50  Notice of appointment of restructuring practitioner for company
 (1) Within 1 business day after the day on which a restructuring practitioner for a company is appointed, the restructuring practitioner must lodge with ASIC notice of the appointment:
 (a) in the prescribed form (if any); and
 (b) in accordance with subregulation 5.6.75(4).
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.
 (2) Within 1 business day after the day on which a restructuring practitioner for a company is appointed, the restructuring practitioner must give information about the following to as many of the company's creditors as reasonably practicable:
 (a) the fact that the restructuring practitioner has been appointed in relation to the company;
 (b) the name of the company;
 (c) any trading name of the company;
 (d) the ACN of the company;
 (e) the name and contact details of the restructuring practitioner;
 (f) the date on which the restructuring practitioner was appointed;
 (g) the restructuring process and the process of making a restructuring plan, including:
 (i) the proposal period in relation to the company; and
 (ii) the amount of time in which an affected creditor may decide whether a proposed restructuring plan should be accepted; and
 (iii) how an affected creditor may verify or dispute the creditor's admissible debts or claims;
 (h) how a person may obtain further information about the restructuring process and the process of making a restructuring plan;
 (i) the right of creditors to request information, reports and documents under sections 70‑40 and 70‑45 of Schedule 2 to the Act.
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.

5.3B.51  Notice of termination of appointment of restructuring practitioner for company
  Within 2 business days after the day on which the appointment of a person as restructuring practitioner for a company terminates, notice in the prescribed form (if