ASSOCIATIONS INCORPORATION ACT 1985 - SECT 41B

ASSOCIATIONS INCORPORATION ACT 1985 - SECT 41B

41B—Reports to be submitted to liquidator

        (1)         Where an incorporated association is wound up by the Supreme Court—

            (a)         the members of the committee of the association (as at the date the order for winding up was made or any earlier date specified by the liquidator) must submit a report to the liquidator in the prescribed form within 14 days after the making of the winding up order; and

            (b)         any officer or former officer of the association who has received notice in writing from the liquidator must submit a report to the liquidator, containing the information specified in the notice, within 14 days of service of the notice.

        (2)         A liquidator must, within seven days after receiving a report under this section, lodge a copy of that report with the Supreme Court and the Commission.

        (3)         On application by a committee or person required to submit a report under this section, the liquidator may, if satisfied that special reasons exist, extend the time for submitting that report.

        (4)         The liquidator must, as soon as practicable, notify the Commission of any extension of time granted under subsection (3).

        (5)         A person who fails to comply with a requirement of subsection (1), (2) or (4) is guilty of an offence.

Maximum penalty: $5 000.

        (6)         The liquidator must reimburse a person who has made a report under this section, out of the property of the association, for the reasonable costs of making the report.