Insolvency Law Reform Act 2016 (11 of 2016)
Schedule 2 Amendments relating to the Insolvency Practice Schedule (Corporations)
Part 2 Amendments consequential on the introduction of the Insolvency Practice Schedule (Corporations)
Corporations Act 2001
216 After subsection 1274(4C)
(4D) ASIC may edit from a statement of affairs any information that ASIC is satisfied is commercial-in-confidence, before allowing a person to inspect the statement, or giving a copy or extract of the statement to a person, under subsection (2).
(4E) A statement of affairs is a statement or report required to be prepared under one of the following provisions:
(a) subsection 421A(1);
(b) paragraph 429(2)(b);
(c) subsection 438B(2);
(d) subsection 475(1) or (2);
(e) subsection 494(2);
(f) subsection 497(4).
(4F) Information is commercial-in confidence if:
(a) the disclosure of the information could unreasonably affect a person, or a business or action related to a person, in an adverse manner; and
(b) the information is not in the public domain; and
(c) the information is not required to be disclosed under another law of the Commonwealth, a State or a Territory; and
(d) the information is not readily discoverable.
(4G) Despite subsection (2), a person is not entitled to inspect, or to require a copy or an extract of, any information in a statement of affairs that has been edited from the statement under subsection (4D).