Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 530B

(1)

A person is not entitled, as against the liquidator of a company:

(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 liquidator is entitled to inspect, and make copies of, such books at any reasonable time.

(3)

A person must not hinder or obstruct a liquidator of a company in obtaining possession of books of the company, unless the person is entitled, as against the company and the liquidator, to retain possession of the books.

(4)

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

(5)

A notice under subsection (4) must specify a period of at least 3 days as the period within which the notice must be complied with.

(6)

A person must comply with a notice under subsection (4) except so far as the person is entitled, as against the company and the liquidator, to retain possession of the books.

(7)

In this section: