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CORPORATIONS ACT 2001 - SECT 206C

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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