Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 206E

Court power of disqualification—repeated contraventions of Law

 
 
(1)
On application by ASIC, the Court may
disqualify a person from managing corporations for the period that the Court
considers appropriate if: 
 
 

(a)
the person: 

 
 
(i)
has at
least twice been an officer of a body corporate that has contravened this Law
while they were an officer of the body corporate and each time the person has
failed to take reasonable steps to prevent the contravention; or

(ii)
has at least twice contravened this Law while they were an
officer of a body corporate; or

(iii)
has been an officer of a body corporate and has done something
that would have contravened subsection 180(1) or section 181 if the body
corporate had been a corporation; and 

 
 
(b)
the Court is
satisfied that the disqualification is justified. 

 
 
(2)
In determining whether the
disqualification is justified, the Court may have regard to: 
 
 
 
(a)
the person's conduct in relation
to the management, business or property of any corporation; and

(b)
any other matters that the Court considers appropriate.