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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