(1) In this section:
"relevant proceeding" means a proceeding:
(a) for the recovery of an amount payable by a bankrupt under section 139ZG; or
(b) for the recovery of an amount payable by a person under section 139ZL; or
(c) involving the question whether a transaction is void against the trustee under Division 3 of Part VI.
(2) Subject to subsection (3), where a person refuses or fails to comply with a request or requirement set out in a notice given to the person under Division 1 or 2 to give any information or produce any books:
(a) if the request or requirement applies to information--the information is not admissible in a relevant proceeding; or
(b) if the request or requirement applies to books--neither the books, nor any secondary evidence of the books, is admissible in a relevant proceeding.
(3) Subsection (2) does not apply to information or a book if the person proves that:
(a) the information or book was not in the possession of the person when the notice was given; and
(b) there were no reasonable steps that the person could have taken to obtain the information or book.
(4) A notice given to a person under Division 1 or 2 must set out the effect of subsections (2) and (3).
(5) A failure to comply with subsection (4) does not affect the validity of the notice.