Managing controller to report within 2 months about corporation’s affairs
421A Managing controller to report within 2 months about corporation’s affairs
A managing controller of property of a corporation must prepare a report about the corporation’s affairs that is in the prescribed form and is made up to a day not later than 30 days before the day when it is prepared.
The managing controller must prepare and lodge the report within 2 months after the control day.
If, in the managing controller’s opinion, it would seriously prejudice:
the corporation’s interests; or
the achievement of the objectives for which the controller was appointed, or entered into possession or assumed control of property of the corporation, as the case requires;
if particular information that the controller would otherwise include in the report were made available to the public, the controller need not include the information in the report.
If the managing controller omits information from the report as permitted by subsection (4), the controller must include instead a notice:
stating that certain information has been omitted from the report; and
summarising what the information is about, but without disclosing the information itself.
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