Assemble the facts for a s 588GA safe-harbour and solvency discussion
Key facts
- Human involvement
- RedLawyer-led
- How AI is used
- From the accounts and cash-flow papers, list solvency indicators, related-party payments and documents needed for a s 588G/588GA and ASIC RG 217 safe-harbour discussion.
- What the lawyer must review
- Form the solvency opinion yourself (cash-flow and balance-sheet tests, s 95A)
- Check RG 217 (December 2024): a course of action reasonably likely to lead to a better outcome
- Check proper records, appropriate advice and contemporaneous documents
- Confirm safe harbour began before insolvency
- Reconcile every figure
- Written for / version
- Commonwealth versionCth
Rules that apply
The document starts from the task name. Change it if this piece of work is different.
Who does what
| Role | What they do |
|---|---|
| Assistance | Supporting preparation only. Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. Substantive advice, judgement and any restricted content remain with the responsible human. |
| Lawyer | Perform the substantive analysis and decisions. Independently check any permitted supporting work and approve the exact output for its intended use. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Verify dates, people and sequence against contemporaneous records. Preserve uncertainty and identify gaps or conflicting accounts.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.