Commonwealth Consolidated Acts

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Directors to help restructuring practitioner

  (1)   A director of a company under restructuring must:

  (a)   attend on the restructuring practitioner; and

  (b)   give the restructuring practitioner information about the company's business, property, affairs and financial circumstances; and

  (c)   allow the restructuring practitioner to inspect and take copies of the company's books;

at the times and in the manner reasonably required by the restructuring practitioner .

  (2)   A person must not fail to comply with subsection   (1).

Penalty:   120 penalty units.

  (3)   An offence based on subsection   (1) is an offence of strict liability.

  (4)   Subsection   (3) does not apply to the extent that the person has a reasonable excuse.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (4), see subsection   13.3(3) of the Criminal Code .

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