Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_25
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 25
Character Range: 35786–37228

25  Who is a disqualified person?

 (1) A person is a disqualified person if, at any time:
 (a) the person has been convicted of an offence against or arising out of this Act or the Financial Sector (Collection of Data) Act 2001; or
 (b) the person has been convicted of an offence against or arising out of a law in force in Australia, or the law of a foreign country, if the offence concerns dishonest conduct or conduct relating to a financial sector company (within the meaning of the Financial Sector (Shareholdings) Act 1998); or
 (c) the person has been or becomes bankrupt; or
 (d) the person has applied to take the benefit of a law for the relief of bankrupt or insolvent debtors; or
 (e) the person has compounded with his or her creditors.

Note: APRA may determine that a person is not a disqualified person (see section 26).

 (2) A reference in subsection (1) to a person who has been convicted of an offence includes a reference to a person in respect of whom an order has been made relating to the offence under:
 (a) section 19B of the Crimes Act 1914; or
 (b) a corresponding provision of a law of a State, a Territory or a foreign country.

 (3) Nothing in this section affects the operation of Part VIIC of the Crimes Act 1914 (which includes provisions that, in certain circumstances, relieve persons from the requirement to disclose spent convictions and require persons aware of such convictions to disregard them).