CORPORATIONS ACT 2001

CHAPTER 2N - UPDATING ASIC INFORMATION ABOUT COMPANIES, REGISTERED SCHEMES AND NOTIFIED FOREIGN PASSPORT FUNDS  

PART 2N.4 - RETURN OF PARTICULARS  

SECTION 348C   ASIC MAY REQUIRE A SOLVENCY RESOLUTION AND STATEMENT  

348C(1)   [ Compliance requirement]  

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]  

The company complies with this subsection if:


(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.


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