Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 438C

(1)

A person is not entitled, as against the administrator of a company under administration:

(a)

to retain possession of books of the company; or

(b)

to claim or enforce a lien on such books;

but such a lien is not otherwise prejudiced.

(2)

Paragraph (1)(a) does not apply in relation to books of which a secured creditor of the company is entitled to possession otherwise than because of a lien, but the administrator is entitled to inspect, and make copies of, such books at any reasonable time.

(3)

The administrator of a company under administration may give to a person a written notice requiring the person to deliver to the administrator, as specified in the notice, books so specified that are in the person's possession.

(4)

A notice under subsection (3) must specify a period of at least 3 business days as the period within which the notice must be complied with.

(5)

A person must comply with a notice under subsection (3) except so far as the person is entitled, as against the company and the administrator, to retain possession of the books.