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Insolvency Law Reform Act 2016
304Notice to registered liquidators concerning information and books—requirements before the commencement day
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304 Notice to registered liquidators concerning information and books—requirements before the commencement day
(1) For the purposes of section 30B and subsection 33(3), the liquidator requirements are taken to include:
(a) the requirements in relation to liquidators, the external administration of companies and the control of the property of corporations under Chapter 5 of the old Corporations Act; and
(b) other provisions of the old Corporations Act that relate to that Chapter.
(2) For the purposes of subparagraph 30B(2)(c)(ii), a reference to an alleged or suspected contravention of a law of the Commonwealth, or of a State or Territory in this jurisdiction includes an alleged or suspected contravention of such a law that:
(a) relates to the performance or exercise of a liquidator’s functions, duties or powers before the commencement day; and
(i) concerns the management of the affairs of a body corporate before the commencement day; or
(ii) involves fraud or dishonesty before the commencement day and relates to a body corporate.
(3) Subsection 33(3) applies, whether or not the liquidator is a registered liquidator under the Insolvency Practice Schedule (Corporations) or was registered as a liquidator under Division 2 of Part 9.2 of the old Corporations Act.
305 ASIC may give information and books relating to pre‑commencement activity
On and after the commencement day, section 39C applies in relation to information and books obtained or generated by ASIC before the commencement day:
(a) in relation to a person who was a liquidator of a company, or of a specified company, or an official liquidator before the commencement day—in the same way as it applies in relation to a registered liquidator on and after the commencement day; and
(b) in relation to any of the following:
(i) a company that was under administration before the commencement day;
(ii) a company in relation to which a deed of company arrangement had been entered into before the commencement day;
(iii) a company in relation to which a liquidator or provisional liquidator was appointed before the commencement day;
in the same way as it applies in relation to a company under external administration on and after the commencement day; and
(c) in relation to a corporation property of which is under control before the commencement day—in the same way as it applies to a corporation property of which is under control on or after the commencement day.
306 Information to be included in ASIC’s annual report
The amendment of section 136 made by the Insolvency Law Reform Act 2016 applies to reports on ASIC’s operations during the financial year ending on 30 June 2017, and later financial years.
307 Appointments to the Companies Auditors Disciplinary Board
The amendment of section 203 made by the Insolvency Law Reform Act 2016 applies to appointments made on or after the commencement day.