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CORPORATIONS ACT 2001

CHAPTER 2D - OFFICERS AND EMPLOYEES  

PART 2D.6 - DISQUALIFICATION FROM MANAGING CORPORATIONS  

SECTION 206C  COURT POWER OF DISQUALIFICATION - CONTRAVENTION OF CIVIL PENALTY PROVISION  

206C(1)  [Power of Court]  


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

(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
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(b) the Court is satisfied that the disqualification is justified.

206C(2)  [Relevant circumstances]  


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.

206C(3)  [Aboriginal and Torres Strait Islander corporation]  

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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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