Which of the Following Statements Is Incorrect

question 27

Multiple Choice

Which of the following statements is incorrect:

• A) once a receiver is appointed, the company is required to submit to them a report as to affairs of the company within 14 days.
• B) a receiver is required to open a special bank account and lodge a statement of receipts and payments every 6 months.
• C) wages, superannuation contributions, the superannuation guarantee change, long service leave, sick leave and retrenchment payments are to be given priority over circulating security interests when the company is in receivership, but not yet in the process of being wound up.
• D) a receiver is required to obtain permission from the company before selling any assets.

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