38Notifying ASIC of bankruptcy, insolvency etc.

#### 38 Notifying ASIC of bankruptcy, insolvency etc. (1) If: (a) a business name is registered to an entity; and (b) a person is appointed or authorised to act as a debtor representative of the entity; the person must lodge with ASIC notice of that fact in accordance with subsection (2). (2) The notice: (a) must be given to ASIC within 28 days after the appointment or authorisation; and (b) must identify who (if anyone) will carry on a business under the business name while the person is appointed or authorised; and (c) must be in the prescribed form; and (d) must be lodged in the prescribed manner. (3) In this section: > debtor representative means: (a) a trustee in bankruptcy; or (b) a liquidator within the meaning given by subsection 6(1) of the Income Tax Assessment Act 1936; or (c) a receiver; or (d) a controller (within the meaning of section 9 of the Corporations Act 2001); or (e) an administrator appointed to an entity under Division 2 of Part 5.3A of the Corporations Act 2001; or (f) a person appointed, or authorised, under a law of the Commonwealth, or of a State or Territory, to manage the affairs of an entity because it is unable to pay all its debts as and when they become due and payable; or (g) an administrator of a deed of company arrangement executed by the entity; or (h) a foreign representative in respect of a foreign proceeding that has been recognised for the purposes of the Cross‑Border Insolvency Act 2008. > trustee in bankruptcy means: (a) in relation to a bankruptcy—the trustee of the estate of the bankrupt; or (b) in relation to a composition or scheme of arrangement under Division 6 of Part IV of the Bankruptcy Act 1966—the trustee of the composition or scheme of arrangement; or (c) in relation to a debtor whose property is subject to control under Division 2 of Part X of the Bankruptcy Act 1966—the controlling trustee in relation to the debtor under that Part of that Act; or (d) in relation to a personal insolvency agreement under Part X of the Bankruptcy Act 1966—the trustee of the agreement; or (e) in relation to the estate of a deceased person in respect of which an order has been made under Part XI of the Bankruptcy Act 1966—the trustee of the estate.