122Accounts

122 Accounts (1) VCAT may, at the time it appoints an administrator or at any later time, appoint a person to examine or audit the accounts of all dealings and transactions relating to the financial matters specified in the administration (missing person) order for a fee approved by VCAT and paid from the missing person's estate. (2) Unless VCAT otherwise directs, on, or as soon as practicable after, the anniversary in each year of the appointment of the administrator, the administrator must lodge with VCAT an account of the dealings and transactions relating to the financial matters specified in the administration (missing person) order during the previous 12 months. (3) Despite subsection (2), VCAT may require an administrator to lodge accounts at a time other than the time specified in that subsection. (4) An account lodged under subsection (2) or (3) must provide a full and true account of the assets and liabilities of the missing person in relation to the financial matters specified in the administration (missing person) order and of all receipts and disbursements in relation to those financial matters made during the previous 12 months. (5) A person appointed under subsection (1) to examine or audit the accounts— (a) must lodge with VCAT a report in relation to the accounts examined or audited; and (b) may recommend in the report the disallowance of any item in the accounts. (6) VCAT must not make an order disallowing an item referred to in subsection (5) if VCAT is satisfied that the administrator acted in good faith and with reasonable care in the exercise of powers conferred on the administrator. (7) If VCAT makes an order disallowing an item referred to in subsection (5), the administrator is liable for the amount of the item disallowed.