Declaration of relevant relationships

In force

Administrator

(1)

In this Act, a declaration of relevant relationships, in relation to an administrator of a company under administration, means a written declaration:

(a)

stating whether any of the following:

(i)

the administrator;

(ii)

if the administrator’s firm (if any) is a partnership—a partner in that partnership;

(iii)

if the administrator’s firm (if any) is a body corporate—that body corporate or an associate of that body corporate;

has, or has had within the preceding 24 months, a relationship with:

(iv)

the company; or

(v)

an associate of the company; or

(vi)

a former liquidator, or former provisional liquidator, of the company; or

(via)

a former restructuring practitioner for the company, or a restructuring plan of the company; or

(vii)

a person who is entitled to enforce a security interest in the whole, or substantially the whole, of the company’s property (including any PPSA retention of title property); and

(b)

if so, stating the administrator’s reasons for believing that none of the relevant relationships result in the administrator having a conflict of interest or duty.

Restructuring practitioner

(1A)

In this Act, a declaration of relevant relationships, in relation to a restructuring practitioner for a company under restructuring, means a written declaration:

(a)

stating whether any of the following:

(i)

the restructuring practitioner;

(ii)

if the restructuring practitioner’s firm (if any) is a partnership—a partner in that partnership;

(iii)

if the restructuring practitioner’s firm (if any) is a body corporate—that body corporate or an associate of that body corporate;

has, or has had within the preceding 24 months, a relationship with:

(iv)

the company; or

(v)

an associate of the company; or

(vi)

a former liquidator, or former provisional liquidator, of the company; or

(vii)

a person who is entitled to enforce a security interest in the whole, or substantially the whole, of the company’s property (including any PPSA retention of title property); and

(b)

if so, stating the restructuring practitioner’s reasons for believing that none of the relevant relationships result in the restructuring practitioner having a conflict of interest or duty.

Liquidator

(2)

In this Act, a declaration of relevant relationships, in relation to a liquidator of a company, means a written declaration:

(a)

stating whether any of the following:

(i)

the liquidator;

(ii)

if the liquidator’s firm (if any) is a partnership—a partner in that partnership;

(iii)

if the liquidator’s firm (if any) is a body corporate—that body corporate or an associate of that body corporate;

has, or has had within the preceding 24 months, a relationship with:

(iv)

the company; or

(v)

an associate of the company; or

(vi)

a former liquidator, or former provisional liquidator, of the company; or

(vii)

a former administrator of the company; or

(viii)

a former administrator of a deed of company arrangement executed by the company; or

(ix)

a former restructuring practitioner for the company; or

(x)

a former restructuring practitioner for a restructuring plan made by the company; and

(b)

if so, stating the liquidator’s reasons for believing that none of the relevant relationships result in the liquidator having a conflict of interest or duty.

This Act’s bill:Explanatory memorandum Second reading speech

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.

60 Declaration of relevant relationships