Document ID: chunk:federal_register_of_legislation:C2025C00185:section:427
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 427
Character Range: 1467136–1468772

427  Notification of matters relating to controller
 (1) A person who:
 (a) obtains an order for the appointment of a receiver of property of a corporation; or
 (b) appoints such a receiver under a power contained in an instrument;
must, within 7 days after obtaining the order or making the appointment, lodge notice that the order has been obtained, or that the appointment has been made, as the case may be.
 (1A) A person who appoints another person to enter into possession, or take control, of property of a corporation (whether or not as agent for the corporation) for the purpose of enforcing a security interest otherwise than as receiver of that property must, within 7 days after making the appointment, lodge notice of the appointment.
 (1B) A person who enters into possession, or takes control, as mentioned in subsection (1A) must, within 7 days after entering into possession or taking control, lodge notice that the person has done so, unless another person:
 (a) appointed the first‑mentioned person so to enter into possession or take control; and
 (b) complies with subsection (1A) in relation to the appointment.
 (2) Within 14 days after becoming a controller of property of a corporation, a person must lodge notice in the prescribed form of the address of the person's office.
 (3) A controller of property of a corporation must, within 14 days after a change in the situation of the controller's office, lodge notice in the prescribed form of the change.
 (4) A person who ceases to be a controller of property of a corporation must, within 7 days after so ceasing, lodge notice that the person has so ceased.