Section 239AF — Companies Act 1993: Directors' statement of company's position

239AF Directors' statement of company's position (1) Within 5 working days after the administration of a company begins, the directors must give to the administrator a statement about the company's business, property, affairs, and financial circumstances. (2) The administrator may extend the time for compliance with subsection (1). (3) The administrator must table the directors' statement— (a) at the first creditors' meeting; or (b) if the administrator has extended the time for compliance by the directors, at the watershed meeting. Compare: Corporations Act 2001 (Australia) s 438B(2) Section 239AF: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).