The offences covered by paragraph (a) and subparagraph (b)(ii) include offences against the law of a foreign country.

(2) The period of disqualification under subsection (1) starts on the day the person is convicted and lasts for:

(a)

if the person does not serve a term of imprisonment—5 years after the day on which they are convicted; or

(b)

if the person serves a term of imprisonment—5 years after the day on which they are released from prison.

Bankruptcy, deed of arrangement or composition with creditors

(3) A person is disqualified from managing corporations if the person is an undischarged bankrupt under the law of Australia, its external territories or another country. (4) A person is disqualified from managing corporations if:

(a)

the person has executed a deed of arrangement under Part X of the Bankruptcy Act 1966 (or a similar law of an external Territory or another country) and the terms of the deed have not been fully complied with; or

(b)

the person's creditors have accepted a composition under Part X of the Bankruptcy Act 1966 (or a similar law of an external Territory or another country) and final payment has not been made under the composition.