Document ID: chunk:federal_register_of_legislation:C2024C00631:section:32:p1
Version: federal_register_of_legislation:C2024C00631
Segment Type: section
Provision Reference: s 32 (pt 1/2)
Character Range: 60204–62838

32  Disqualified entities
 (1) An entity is disqualified if:
 (a) the entity is a person disqualified from managing corporations under subsection 206B(1) of the Corporations Act 2001 because the person is convicted of an offence; or
 (b) a person involved in the management of the entity is disqualified from managing corporations under subsection 206B(1) of the Corporations Act 2001 because the person is convicted of an offence; or
 (c) the entity is a person who is not disqualified under subsection 206B(1) of the Corporations Act 2001, but is convicted of an offence against a law of the Commonwealth, a State, a Territory or a foreign country that involves dishonesty and is punishable by imprisonment for at least 3 months; or
 (d) the entity is a person who is not disqualified under subsection 206B(1) of the Corporations Act 2001, but is convicted of an offence against the law of a foreign country that is punishable by imprisonment for a period of more than 12 months; or
 (e) a person involved in the management of the entity is not disqualified under subsection 206B(1) of the Corporations Act 2001, but is convicted of an offence referred to in paragraph (c) or (d) of this subsection.
 (2) The entity is disqualified:
 (a) in a case mentioned in paragraph (1)(a)—during the period for which the entity is disqualified under subsection 206B(2) of the Corporations Act 2001; and
 (b) in a case mentioned in paragraph (1)(b)—during the period for which the person involved in the management of the entity is disqualified under subsection 206B(2); and
 (c) in a case mentioned in paragraph (1)(c) or (d):
 (i) if the entity does not serve a term of imprisonment—for a period of 5 years after the day on which the entity is convicted; or
 (ii) if the entity serves a term of imprisonment—for a period of 5 years after the day on which the entity is released from prison; and
 (d) in a case mentioned in paragraph (1)(e):
 (i) if the person involved in the management of the entity does not serve a term of imprisonment—for a period of 5 years after the day on which the person is convicted; or
 (ii) if the person involved in the management of the entity serves a term of imprisonment—for a period of 5 years after the day on which the person is released from prison.
 (3) The Minister may, on application in writing by a person, determine that:
 (a) where the person is the entity that would otherwise be disqualified—the entity is not disqualified despite the conviction; and
 (b) where the person is involved in the management of an entity that would otherwise be disqualified—the entity is not disqualified despite the