Commonwealth Numbered Acts

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 117

117. Section 597 of the Corporations Law is amended:

   (a)  by omitting subsections (1), (2) and (3);
(b) by omitting from subsection (4) "under this section shall" and
substituting "is to";

   (c)  by omitting subsection (5) and substituting the following subsections:

"(5A) Any of the following may take part in an examination:

   (a)  the Commission;

   (b)  any other eligible applicant in relation to the corporation; and for
        that purpose may be represented by a lawyer or by an agent authorised
        in writing for the purpose.

"(5B) The Court may put, or allow to be put, to a person being examined such
questions about the corporation or any of its examinable affairs as the Court
thinks appropriate.".

   (d)  by omitting from subsection (6) "ordered under subsection (3)" and
        substituting "summoned under section 596A or 596B";

   (e)  by omitting from paragraph (6)(a) "order" and substituting "summons";

   (f)  by omitting subsections (7), (8) and (9) and substituting the
        following subsections:

"(7) A person who attends before the Court for examination must not:

   (a)  without reasonable excuse, refuse or fail to take an oath or make an
        affirmation; or

   (b)  without reasonable excuse, refuse or fail to answer a question that
        the Court directs him or her to answer; or

   (c)  make a statement that is false or misleading in a material particular;
        or

   (d)  without reasonable excuse, refuse or fail to produce books that the
        summons requires him or her to produce.

"(9) The Court may direct a person to produce, at an examination of that or
any other person, books that are in the first-mentioned person's possession
and are relevant to matters to which the examination relates or will relate.

"(9A) A person may comply with a direction under subsection (9) by causing the
books to be produced at the examination.";

   (g)  by omitting subsection (11) and substituting the following subsection:

"(10A) A person must not, without reasonable excuse, refuse or fail to comply
with a direction under subsection (9).";

   (h)  by omitting from subsections (12) and (12A) "held under an order under
        subsection (3)";

   (i)  by omitting from subsection (13) "under this section";

   (j)  by inserting after subsection (14) the following subsection:

"(14A) A written record made under subsection (13):

   (a)  is to be open for inspection, without fee, by:

        (i)    the person who applied for the examination; or

        (ii)   an officer of the corporation; or

        (iii)  a creditor of the corporation; and

   (b)  is to be open for inspection by anyone else on paying the prescribed
        fee.";

   (k)  by omitting from subsections (15), (16) and (17) "section" (wherever
        occurring) and substituting "Division";

   (l)  by omitting subsection (18).