CORPORATIONS ACT 2001
ASIC may include, in a return of particulars for a company, a requirement that the company comply with subsection (2) or subsection (3). The company may choose which subsection to comply with.348C(2) [ Statement of resolution]
(a) before the company lodges a response to the return of particulars, the directors of the company pass a solvency resolution; and
(b) the response to the return of particulars states whether the resolution passed was a positive solvency resolution or a negative solvency resolution. 348C(3) [ Positive solvency resolution passed]
The company complies with this subsection if the response to the return of particulars states the date on which the directors passed a positive solvency resolution under section 347A in respect of the company's most recent review date.