Business Names Registration Act 2011

PART 4 - OBLIGATIONS TO GIVE INFORMATION TO ASIC  

SECTION 38   NOTIFYING ASIC OF BANKRUPTCY, INSOLVENCY ETC.  

38(1)  


If:

(a)  a business name is registered to an entity; and

(b)  a person is appointed or authorised to act as a debtor representative of the entity;

the person must lodge with ASIC notice of that fact in accordance with subsection (2) .

38(2)  


The notice:

(a)  must be given to ASIC within 28 days after the appointment or authorisation; and

(b)  must identify who (if anyone) will carry on a business under the business name while the person is appointed or authorised; and

(c)  must be in the prescribed form; and

(d)  must be lodged in the prescribed manner.

38(3)  
In this section:

debtor representative
means:


(a) a trustee in bankruptcy; or


(b) a liquidator within the meaning given by subsection 6(1) of the Income Tax Assessment Act 1936 ; or


(c) a receiver; or


(d) a controller (within the meaning of section 9 of the Corporations Act 2001 ); or


(e) an administrator appointed to an entity under Division 2 of Part 5.3A of the Corporations Act 2001 ; or


(f) a person appointed, or authorised, under a law of the Commonwealth, or of a State or Territory, to manage the affairs of an entity because it is unable to pay all its debts as and when they become due and payable; or


(g) an administrator of a deed of company arrangement executed by the entity; or


(h) a foreign representative in respect of a foreign proceeding that has been recognised for the purposes of the Cross-Border Insolvency Act 2008 .

trustee in bankruptcy
means:


(a) in relation to a bankruptcy - the trustee of the estate of the bankrupt; or


(b) in relation to a composition or scheme of arrangement under Division 6 of Part IV of the Bankruptcy Act 1966 - the trustee of the composition or scheme of arrangement; or


(c) in relation to a debtor whose property is subject to control under Division 2 of Part X of the Bankruptcy Act 1966 - the controlling trustee in relation to the debtor under that Part of that Act; or


(d) in relation to a personal insolvency agreement under Part X of the Bankruptcy Act 1966 - the trustee of the agreement; or


(e) in relation to the estate of a deceased person in respect of which an order has been made under Part XI of the Bankruptcy Act 1966 - the trustee of the estate.




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