Document ID: chunk:federal_register_of_legislation:C2025C00182:section:39c:p2
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 39C (pt 2/3)
Character Range: 330893–333695

to a person under this section, ASIC must give the external administrator of the company or the controller of the property of the corporation (as the case requires) notice in writing:
 (a) identifying:
 (i) the administration information that ASIC proposes to give; and
 (ii) the person to whom ASIC proposes to give the information; and
 (b) inviting the external administrator or controller (as the case requires) to make a written submission to ASIC within 10 business days after the notice is given, stating:
 (i) whether he or she has any objection to the administration information being given to the person; and
 (ii) if he or she has such an objection, the reasons for that objection.
 (5) If the external administrator or controller (as the case requires) objects to the administration information being given to a person, ASIC must take into account the reasons for that objection when deciding whether to give the information to the person.
 (6) If the external administrator or controller (as the case requires) has made a submission objecting to the administration information being given to a person and ASIC decides to give the information to the person, ASIC must give the external administrator or controller (as the case requires) 5 business days' notice of its decision before giving the information to the person.

Conditions
 (7) ASIC may, by notice in writing to the person to whom ASIC gives the administration information, impose conditions on the use and disclosure of the administration information by the person.

Offence
 (8) A person commits an offence if:
 (a) ASIC gives administration information to the person subject to a condition in relation to the use or disclosure of that information by the person; and
 (b) ASIC has given the person notice of the condition under subsection (7); and
 (c) the person does not comply with the condition.
Penalty: 3 months imprisonment.

Notices are not legislative instruments
 (9) Notices under subsections (4) and (7) are not legislative instruments.

Definitions
 (10) In this section:
control of the property of a corporation means:
 (a) the receivership of that property; and
 (b) the possession, or control, of that property for the purpose of enforcing a security interest;
and includes any functions or powers in connection with managing the corporation that may be performed or exercised by a receiver or other controller of that property.
external administration of a company has the same meaning as in Schedule 2 to the Corporations Act.
external administrator of a company has the same meaning as in Schedule 2 to the Corporations Act.
registered liquidator means a person who is registered as a liquidator under Schedule 2 to the Corporations Act.

Division 3A—Extra application of Crimes Act search warrant provisions