My husband and I have a small business. We recently received a notice from ASIC to produce books and records from our business. There was a fire a couple of years ago and many of our business records were destroyed. We have some but not all the documents they have asked for. We are worried about what will happen if we cannot comply with this notice in full.
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Answer by LegalEagle™ staff, Bronte 2024 NSW
- The best thing to do is to make contact with an officer at ASIC. You can explain your situation to them and they will advise you about what to do.
- It may be that you need to provide evidence of the fire.
- You may also be able to request some documents from other institutions to replace those documents that you have lost.
- In the meantime start collating the documents and records that you do have and make a note of the deadline. You should ensure that you comply with the notice as far as possible with the exception of any documents that are subject to legal privilege.