Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 434

434. (1) If a receiver of property of a corporation:

   (a)  who has made default in making or lodging any return, account or other
        document or in giving any notice required by law fails to make good
        the default within 14 days after the service on the receiver, by any
        member or creditor of the corporation or trustee for debenture
        holders, of a notice requiring the receiver to do so; or

   (b)  who has been appointed under a power contained in an instrument has,
        after being required at any time by the liquidator of the corporation
        so to do, failed to render proper accounts of, and to vouch, the
        receiver's receipts and payments and to pay over to the liquidator the
        amount properly payable to the liquidator; the Court may make an order
        directing the receiver to make good the default within such time as is
        specified in the order.

(2) An application under subsection (1) may be made:

   (a)  if paragraph (1) (a) applies-by a member or creditor of the
        corporation or by a trustee for debenture holders; and

   (b)  if paragraph (1) (b) applies-by the liquidator of the corporation.