BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 70 - Information  

Subdivision C - Record-keeping  

SECTION 70-11   TRUSTEE ' S BOOKS WHEN TRADING  

Trustee must keep trading books etc.

70-11(1)  
If the trustee of a regulated debtor ' s estate carries on a business previously carried on by the regulated debtor, the trustee must:


(a) keep such books as are usually kept in relation to the carrying on of a business of that kind; and


(b) permit a creditor, or another person acting on the creditor ' s behalf, to inspect the books at all reasonable times. Offence

70-11(2)  
A person commits an offence of strict liability if:


(a) the person is subject to a requirement under subsection (1); and


(b) the person fails to comply with the requirement.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).




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