Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 422

422. (1) If it appears to the receiver of property of a corporation that:

   (a)  a past or present officer, or a member, of the corporation may have
        been guilty of an offence in relation to the corporation; or

   (b)  a person who has taken part in the formation, promotion,
        administration, management or winding up of the corporation:

        (i)    may have misapplied or retained, or may have become liable or
               accountable for, any money or property (whether the property is
               within or outside Australia) of the corporation; or

        (ii)   may have been guilty of any negligence, default, breach of duty
               or breach of trust in relation to the corporation; the receiver
               shall:

   (c)  lodge as soon as practicable a report about the matter; and

   (d)  give to the Commission such information, and such access to and
        facilities for inspecting and taking copies of any documents, as the
        Commission requires.

(2) The receiver may also lodge further reports specifying any other matter
that, in the receiver's opinion, it is desirable to bring to the notice of the
Commission.

(3) If it appears to the Court:

   (a)  that a past or present officer, or a member, of a corporation in
        respect of property of which a receiver has been appointed has been
        guilty of an offence under a law referred to in paragraph (1) (a) in
        relation to the corporation; or

   (b)  that a person who has taken part in the formation, promotion,
        administration, management or winding up of a corporation in respect
        of property of which a receiver has been appointed has engaged in
        conduct referred to in paragraph (1) (b) in relation to the
        corporation; and that the receiver has not lodged a report about the
        matter, the Court may, on the application of a person interested in
        the appointment of the receiver or of its own motion, direct the
        receiver to lodge such a report.