A director's genuine ignorance of the day-to-day financial affairs of a company, combined with inability to access the company's books, can constitute a reasonable excuse for failing to submit a report as to affairs under s475(9) of the Corporations Law. The assessment of reasonable excuse depends on all the circumstances, including the extent of the liquidator's existing knowledge, the availability of books, and the director's efforts to obtain information and comply. Mere ignorance alone may not suffice, but ignorance coupled with practical impossibility of compliance may.
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