Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A person who is an insolvent under administration or a disqualified person must not, without leave of the Director, be an officer of an incorporated association.
Maximum penalty: 200 penalty units.
(2) A person who has been convicted within or outside the Territory:
(a) on an indictment of an offence in connection with the promotion, formation or management of a body corporate; or
(b) of an offence involving fraud or dishonesty punishable on conviction by imprisonment for not less than 3 months; or
(c) of an indictable offence; or
(d) of an offence against this Act; or
(e) a prescribed offence;
must not, within 5 years after the conviction or, if the person was sentenced to imprisonment in relation to the offence, within 5 years after release from custody, without leave of the Director, be an officer of an incorporated association.
Maximum penalty: 200 penalty units.
(3) Subsection (2) applies even if the conviction or release from custody occurred before the commencement of this Act.
(4) When granting leave under this section, the Director may impose the conditions the Director considers appropriate.
(5) The Director may revoke leave granted under this section.
(6) In this section:
"insolvent under administration" means a person who:
(a) under the Bankruptcy Act 1966 (Cth), is a bankrupt in relation to a bankruptcy from which the person is not discharged; or
(b) under the law of a country other than Australia, has the status of an undischarged bankrupt;
and includes:
(c) a person who has executed a personal insolvency agreement under Part X of the Bankruptcy Act 1966 (Cth) or the corresponding provisions of the law of another country, in either case if the terms of the deed have not been fully complied with; and
(d) a person whose creditors have accepted a composition under Part X of the Bankruptcy Act 1966 (Cth) or the corresponding provisions of the law of a another country, in either case if a final payment has not been made under that composition.