(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 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.

(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.