Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The directors of a company must pass a solvency resolution within 2 months after each review date for the company.
(2) Subsection (1) does not apply to the directors of a company that has lodged a financial report with ASIC under Chapter 2M within the period of 12 months before the review date.
Note: The defendant bears an evidential burden in relation to the matter in subsection (2). See subsection 13.3(3) of the Criminal Code .
(3) An offence based on this section is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
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