(1) This section applies if a person is the controller of property of a corporation during all or part of a control return year for the controller for the corporation.
(2) However, this section does not apply if:
(a) the control of the property ends during the control return year; and
(b) the person is the controller of the property when the control of the property ends.
Note: If a person is the controller of property of the corporation when the control of the property ends, the person must instead lodge a return under section 422B.
(3) The person must lodge a return in relation to the control of the property of the corporation.
(4) The return must:
(a) be in the approved form; and
(b) be lodged with ASIC within 3 months after the end of the control return year.
Note: Fees for lodging documents and late lodgement fees may be imposed under the Corporations (Fees) Act 2001 .
(5) Each of the following is a control return year for a controller for a corporation:
(a) the period of 12 months beginning on the day on which the person first began to be a controller of the property of the corporation;
(b) each subsequent period of 12 months.