Mandatory examination
596A Mandatory examination
The Court is to summon a person for examination about a corporation’s examinable affairs if:
an eligible applicant applies for the summons; and
the Court is satisfied that the person is an officer or provisional liquidator of the corporation or was such an officer or provisional liquidator during or after the 2 years ending:
if the corporation is under administration—on the section 513C day in relation to the administration; or
if the corporation has executed a deed of company arrangement that has not yet terminated—on the section 513C day in relation to the administration that ended when the deed was executed; or
if the corporation is under restructuring—on the section 513CA day in relation to the restructuring; or
if the corporation has made a restructuring plan that has not yet terminated—on the section 513CA day in relation to the restructuring that ended when the plan was made; or
if the corporation is being, or has been, wound up—when the winding up began; or
otherwise—when the application is made.
This section applies to a CCIV in a modified form: see section 1237U.
This Act’s bill:Explanatory memorandumSecond reading speech
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