Insolvency Law Reform Act 2016 (11 of 2016)
Schedule 3 Other amendments
Part 1 Payments for property
Corporations Act 2001
1 Subsection 443B(3)
Repeal the subsection, substitute:
(3) Within 5 business days after the beginning of the administration, the administrator may give to the owner or lessor a notice that:
(a) specifies the property; and
(b) states that the company does not propose to exercise rights in relation to the property; and
(c) if the administrator:
(i) knows the location of the property; or
(ii) could, by the exercise of reasonable diligence, know the location of the property;
specifies the location of the property.
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