Corporations Act 2001
Note: See section 600K .
PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS Division 70 - Information Subdivision C - Record-keeping CLAUSE 70-10 ADMINISTRATION BOOKSExternal administrator must keep proper books
70-10(1)
An external administrator of a company must keep proper books in which the external administrator must cause to be made:
(a) entries or minutes of proceedings at meetings relating to the external administration of the company; and
(b) such other entries as are necessary to give a complete and correct record of the external administrator ' s administration of the company ' s affairs.
70-10(2)
The external administrator must:
(a) ensure that the books are available at the external administrator ' s office for inspection; and
(b) permit a creditor or contributory, or another person acting on the creditor ' s or contributory ' s behalf, to inspect the books at all reasonable times.
Exception
70-10(3)
Subsections (1) and (2) do not apply if the external administrator has a reasonable excuse.
70-10(3A)
Subsection (2) does not apply if the company is under restructuring or has made a restructuring plan that has not yet terminated.
View history note
Hide history noteOffence
70-10(4)
A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1) or (2); and
(b) the person fails to comply with the requirement.
Penalty: 20 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in subsection (3) (see subsection 13.3(3) of the Criminal Code ).
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