Western Australian Current Acts Western Australian Current Acts (1) On application by
the Registrar, the Supreme Court may disqualify a person from managing
co-operatives for up to 20 years if —
(a)
within the last 7 years, the person has been an officer of 2 or more entities
(being co-operatives or other corporations) when they have failed; and
(b) the
court is satisfied that —
(i)
the manner in which the entity was managed was wholly or
partly responsible for the entity failing; and
(ii)
the disqualification is justified.
(2) For the purposes
of subsection (1), an entity fails if —
(a) a
court orders the entity to be wound up because the court is satisfied that it
is insolvent; or
(b) the
entity enters into voluntary liquidation and creditors are not fully paid or
are unlikely to be fully paid; or
(c) the
entity executes a deed of arrangement and creditors are not fully paid or are
unlikely to be fully paid; or
(d) the
entity ceases to carry on business and creditors are not fully paid or are
unlikely to be fully paid; or
(e) a
levy of execution against the entity is not satisfied; or
(f) a
receiver, receiver and manager, or provisional liquidator is appointed in
relation to the entity; or
(g) the
entity enters into a compromise or arrangement with its creditors; or
(h) the
entity is wound up and a liquidator lodges a report about the entity’s
inability to pay its debts.
(3) In determining
whether the disqualification is justified, the Supreme Court may have regard
to —
(a) the
person’s conduct in relation to the management, business or property of
any entity; and
(b) any
other matters that the court considers appropriate.
[Section 206F inserted: No. 7 of 2016 s. 61.]