IPS Subdivision F 70-60 Reporting to ASIC

Insolvency Practice Rules may provide for reporting to ASIC

(1)The Insolvency Practice Rules may provide for and in relation to the obligations of an external administrator of a company: 

(a) to give information; and
(b) to provide reports; and
(c) to produce documents;
to ASIC.

(2) Without limiting subsection (1), the Insolvency Practice Rules may provide for and in relation to:
(a) the manner and form in which information is to be given, a report provided or a document produced; and
(b) the timeframes in which information is to be given, a report provided or a document produced; and
(c) who is to bear the cost of giving information, providing a report or producing a document.

(3) The Insolvency Practice Rules may make different provision in relation to different kinds of external administration.

Note: A failure to give information, provide a report or produce a document to ASIC in accordance with the Insolvency Practice Rules may lead to disciplinary action under Subdivision B of Division 40 of Part 2 of this Schedule.

IPR 70-60 Report to ASIC