Notice to ASIC
347B Notice to ASIC
If the directors of a company pass a negative solvency resolution under section 347A, the company must notify ASIC of that fact, in the prescribed form, within 7 days after the resolution is passed.
If:
subsection 347A(1) applies to the directors of a company; and
the directors have not passed a solvency resolution under section 347A within 2 months after a review date;
the company must notify ASIC of that fact, in the prescribed form, within 7 days after the end of the 2 month period following the review date.
An offence based on subsection (1) or (2) is an offence of strict liability.
This provision refers to the regulations (prescribed form
). Made under this Act:
- Corporations Regulations 2001 · under s 1364
115 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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