THE CORPORATIONS LAW

CHAPTER 2D - OFFICERS AND EMPLOYEES

PART 2D.6 - DISQUALIFICATION FROM MANAGING CORPORATIONS

SECTION 206C   COURT POWER OF DISQUALIFICATION - CONTRAVENTION OF CIVIL PENALTY PROVISION  

206C(1)  [Power of Court]  

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

(a)  a declaration is made under section 1317E (civil penalty provision) that the person has contravened a civil penalty provision; and

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

Note:

The civil penalty provisions are subsection 180(1) and (2), 181(1) and (2), 182(1) and (2), 183(1) and (2), 209(2), 254L(2), 256D(3), 259F(2), 260D(2) or 344(1) or section 588G.

206C(2)  [Relevant circumstances]  

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.