(1) This section applies to an administrator appointed under section 436A, 436B or 436C.
Declaration of relationships and indemnities
(2) As soon as practicable after being appointed, the administrator must make:
(a) a declaration of relevant relationships; and
(b) a declaration of indemnities.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
Notification of creditors
(3) The administrator must:
(a) give a copy of each declaration under subsection (2) to as many of the company's creditors as reasonably practicable; and
(b) do so at the same time as the administrator gives those creditors notice of the meeting referred to in section 436E.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(4) The administrator must table a copy of each declaration under subsection (2) at the meeting referred to in section 436E.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(4A) As soon as practicable after making a declaration under subsection (2), the administrator must lodge a copy of the declaration with ASIC.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(a) at a particular time, the administrator makes:
(i) a declaration of relevant relationships; or
(ii) a declaration of indemnities;
under subsection (2) or this subsection; and
(i) the declaration has become out - of - date; or
(ii) the administrator becomes aware of an error in the declaration;
the administrator must, as soon as practicable, make:
(c) if subparagraph (a)(i) applies--a replacement declaration of relevant relationships; or
(d) if subparagraph (a)(ii) applies--a replacement declaration of indemnities.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(6) The administrator must table a copy of a replacement declaration under subsection (5):
(i) there is a committee of inspection; and
(ii) the next meeting of the committee of inspection occurs before the next meeting of the company's creditors;
at the next meeting of the committee of inspection; or
(b) in any other case--at the next meeting of the company's creditors.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(6A) As soon as practicable after making a replacement declaration under subsection (5), the administrator must lodge a copy of the replacement declaration with ASIC.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(7) In a prosecution for an offence constituted by a failure to include a particular matter in a declaration under this section, it is a defence if the defendant proves that:
(a) the defendant made reasonable enquiries; and
(b) after making these enquiries, the defendant had no
reasonable grounds for believing that the matter should have been included in
the declaration.