Corporations Act 2001
A person who is disqualified from managing corporations may apply to the Court for leave to manage:
(a) corporations; or
(b) a particular class of corporations; or
(c) a particular corporation;
if the person was not disqualified by ASIC.206G(2)
The person must lodge a notice with ASIC at least 21 days before commencing the proceedings. The notice must be in the prescribed form.
[ CCH Note: S 206G(2) will be amended by No 69 of 2020, s 3, Sch 1 and [ 547], by substituting " the Registrar " for " ASIC " and " meet any requirements of the data standards " for " be in the prescribed form " , (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
The order granting leave may be expressed to be subject to exceptions and conditions determined by the Court. 206G(4)
The person must lodge with ASIC a copy of any order granting leave within 14 days after the order is made.
[ CCH Note: S 206G(4) will be amended by No 69 of 2020, s 3, Sch 1, by substituting " the Registrar " for " ASIC " , (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
On application by ASIC, the Court may revoke the leave. The order revoking leave does not take effect until it is served on the person.
[ CCH Note: S 206G(6) will be inserted by No 69 of 2020, s 3, Sch 1 (effective 22 June 2022 or a day or days to be fixed by Proclamation). S 206G(6) will read:
Lodgement of a document with the Registrar under this section must meet any requirements of the data standards.]
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