Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 229

229. (1) In this section:

"relevant body corporate" means:

   (a)  a company;

   (b)  a foreign corporation; or

   (c)  a prescribed corporation.

(2) A person who is an insolvent under administration shall not be a director
or promoter of, or be in any way (whether directly or indirectly) concerned in
or take part in the management of, a relevant body corporate without the leave
of the Court.

(3) A person who has, whether before or after the commencement of this Part,
been convicted:

   (a)  on indictment of any offence in connection with the promotion,
        formation or management of a body corporate;

   (b)  of any offence involving fraud or dishonesty punishable on conviction
        by imprisonment for a period of not less than 3 months; or

   (c)  of any offence for a contravention of section 232, 590, 591, 592, 595,
        996 or 1307, of Part 6.6, of Division 2 of Part 7.11, or of a
        corresponding law; shall not, within 5 years after the conviction or,
        if the person was sentenced to imprisonment, after release from
        prison, without the leave of the Court, be a director or promoter of,
        or be in any way (whether directly or indirectly) concerned in or take
        part in the management of, a relevant body corporate.

(4) In any proceeding for a contravention of subsection (3), a certificate by
a prescribed authority stating that a person was released from prison on a
specified date is prima facie evidence that that person was released from
prison on that date.

(5) When granting leave under this section, the Court may impose such
conditions or restrictions as it thinks fit and a person shall not contravene
any such condition or restriction.

(6) A person intending to apply for leave of the Court under this section
shall give to the Commission not less than 21 days notice of the person's
intention so to apply.

(7) The Court may at any time, on the application of the Commission, revoke
leave granted by the court under this section.

(8) Any leave granted by a court under a corresponding law before the
commencement of this Part has effect for the purposes of this section as if it
had been granted by the Court under this section.