CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 3 - Liquidators  

SECTION 530B   LIQUIDATOR'S RIGHTS TO COMPANY'S BOOKS  

530B(1)   [ Person cannot retain books]  

A person is not entitled, as against the liquidator of a company:


(a) to retain possession of books of the company; or


(b) to claim or enforce a lien on such books;

but such a lien is not otherwise prejudiced.

530B(2)   [ Secured creditor's possession of books]  

Paragraph (1)(a) does not apply in relation to books of which a secured creditor of the company is entitled to possession otherwise than because of a lien, but the liquidator is entitled to inspect, and make copies of, such books at any reasonable time.

530B(3)   [ Hindrance or obstruction of liquidator]  

A person must not engage in conduct that results in the hindering or obstruction of a liquidator of a company in obtaining possession of books of the company.

530B(3A)   [ Limitation]  

Subsection (3) does not apply if the person is entitled, as against the company and the liquidator, to retain possession of the books.

Note: A defendant bears an evidential burden in relation to the matter in subsection (3A), see subsection 13.3(3) of the Criminal Code .

530B(4)   [ Liquidator may require production of books]  

The liquidator of a company may give to a person a written notice requiring the person to deliver to the liquidator, as specified in the notice, books so specified that are in the person's possession.

530B(5)   [ Time to comply with notice]  

A notice under subsection (4) must specify a period of at least 3 days as the period within which the notice must be complied with.

530B(6)   [ Duty to comply with notice]  

A person must comply with a notice under subsection (4).

530B(6A)   [ Limitation]  

Subsection (6) does not apply to the extent that the person is entitled, as against the company and the liquidator, to retain possession of the books.

Note: A defendant bears an evidential burden in relation to the matter in subsection (6A), see subsection 13.3(3) of the Criminal Code .

530B(6B)   [ Strict liability offence]  

An offence based on subsection (6) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .

530B(7)   [ ``liquidator'']  

In this section:

liquidator
includes a provisional liquidator.


 

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