Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 224

224. (1) The office of a director of a company is, by force of this section,
vacated if the person holding the office:

   (a)  has not within the period referred to in subsection 223 (1) obtained
        the person's qualification;

   (b)  after so obtaining that qualification ceases at any time to hold the
        qualification;

   (c)  becomes an insolvent under administration;

   (d)  is convicted of an offence in respect of a contravention of
        subsection  229 (2);

   (e)  becomes subject to a section 230 order;

   (f)  becomes subject to a section 599 order; or

   (g)  becomes subject to a section 600 notice.

(2) A person whose office is vacated because of paragraph (1) (a) or (b) or
was vacated because of a corresponding law is incapable of being re-appointed
as a director until the person has obtained the person's qualification.

(3) A person whose office is vacated because of paragraph (1) (c) or was
vacated because of a corresponding law is incapable, without the leave of the
Court, of being re-appointed as a director until the person ceases to be an
insolvent under administration.

(4) A person whose office is vacated because of paragraph (1) (d) or was
vacated because of a corresponding law is incapable, without the leave of the
Court, of being re-appointed as a director until the end of the period of 5
years referred to in subsection 229 (2) or in a corresponding law, as the case
may be.

(5) A person whose office is vacated because of paragraph (1) (e) or (f) or
was vacated because of a corresponding law is incapable of being re-appointed
as a director until the end of the period specified in the order referred to
in that paragraph or in the order referred to in that corresponding law, as
the case may be.

(6) A person whose office is vacated because of paragraph (1) (g) or was
vacated because of a corresponding law is incapable, without the leave of the
Court, of being re-appointed as a director until the end of the period
specified in the notice referred to in that paragraph or in the notice
referred to in that corresponding law, as the case may be.

(7) A person whose office is vacated because of paragraph (1) (a) or (b) or
was vacated because of a corresponding law shall not purport to act as a
director of the company unless the person has been validly re-appointed as a
director.