ASIC may require a solvency resolution and statement
(1) ASIC may include, in a return of particulars for a company, a requirement that the company comply with subsection (2) or subsection (3). The company may choose which subsection to comply with. Note: This section does not apply to CCIVs: see subsection 1232U(2). (2) The company complies with this subsection if: (a) before the company lodges a response to the return of particulars, the directors of the company pass a solvency resolution; and (b) the response to the return of particulars states whether the resolution passed was a positive solvency resolution or a negative solvency resolution. (3) The company complies with this subsection if the response to the return of particulars states the date on which the directors passed a positive solvency resolution under section 347A in respect of the company’s most recent review date.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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