Commonwealth Consolidated Acts

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Court power of disqualification--contravention of civil penalty provision

             (1)  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:

                              (i)  section 1317E (civil penalty provision) that the person has contravened a corporation/scheme civil penalty provision or subsection 670A(4), 727(6), 728(4) or 1309(12); or

                             (ii)  section 386- 1 (civil penalty provision) of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 that the person has contravened a civil penalty provision (within the meaning of that Act); 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.

             (3)  To avoid doubt, the reference in paragraph (2)(a) to a corporation includes a reference to an Aboriginal and Torres Strait Islander corporation.

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