75Notification from liquidator and request for information about winding up

75 Notification from liquidator and request for information about winding up

(1) A liquidator, or a provisional liquidator, of a body corporate that:

(a) is a designated entity; or

(b) is a related body corporate of a designated entity and is incorporated in Australia;

must give written notice to the Reserve Bank, at least 7 days before making an application to the Court in relation to a matter arising under the winding‑up of the body corporate.

(2) Subsection (1) does not apply in relation to a related body corporate of a designated entity unless the application would affect the ability of the designated entity to continue to provide one or more cash distribution services.

(3) A notice under subsection (1) must include details of the proposed application.

(4) The Reserve Bank is entitled to be heard on the application to the Court.

Information request

(5) The Reserve Bank may request the liquidator or provisional liquidator to give, within a reasonable time specified in the request, specified information in writing about:

(a) the application; or

(b) other matters relating to the winding‑up, or proposed winding up, of the body corporate; or

(c) the affairs of the body corporate.

(6) The liquidator or provisional liquidator must comply with the request.