Section 456F — Corporations Act 2001: Declarations by replacement restructuring practitioner—relevant relationships

Scope (1) This section applies to a restructuring practitioner appointed under subsection 456E(1) otherwise than by the Court. Declaration of relationships (2) As soon as practicable after being appointed, the restructuring practitioner must make a declaration of relevant relationships. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). Notification of creditors (3) The restructuring practitioner must: (a) give a copy of the declaration under subsection (2) to as many of the company’s creditors as reasonably practicable; and (b) do so at the same time as notice of the appointment is given under section 457A. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). (4) As soon as practicable after making a declaration under subsection (2), the restructuring practitioner must lodge a copy of the declaration with ASIC. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). Updating of declaration (5) If: (a) at a particular time, the restructuring practitioner makes a declaration of relevant relationships under subsection (2) or this subsection; and (b) at a later time: (i) the declaration has become out-of-date; or (ii) the restructuring practitioner becomes aware of an error in the declaration; the restructuring practitioner must, as soon as practicable, make a replacement declaration of relevant relationships. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). (6) As soon as practicable after making a replacement declaration under subsection (5), the restructuring practitioner must lodge a copy of the replacement declaration with ASIC. Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). Defence (7) In a prosecution for an offence constituted by a failure to include a particular matter in a declaration under this section, it is a defence if the defendant proves that: (a) the defendant made reasonable enquiries; and (b) after making these enquiries, the defendant had no reasonable grounds for believing that the matter should have been included in the declaration.