Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:2_5:p3
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 2 cl 5 (pt 3/9)
Character Range: 2008220–2011326

circumstances you are required to demonstrate, in accordance with subparagraph 206GAA(1)(b)(i) of the Act, why you should not be disqualified from managing corporations.

Under subsection 206GAA(1) of the Act you may be disqualified from managing corporations for a period of up to 5 years.

In making a decision under subsection 206GAA(1) of the Act ASIC is required to give you an opportunity to be heard in relation to why you should not be disqualified from managing corporations.

AREAS OF CONCERN

ASIC has identified a number of concerns about your conduct which are described in Attachment "A".

The documents on which these concerns are based are listed in Attachment "B".

OPPORTUNITY TO BE HEARD

If you wish to demonstrate why you should not be disqualified from managing corporations you should notify ASIC within 14 days from the date of service of this notice that you require an opportunity of being heard.

You may exercise your right to be heard by:

     1.               making a written submission; or

     1.               appearing before a person ASIC has appointed to hear the matter (the delegate) and making submissions orally and appearing before the delegate to present evidence.

You may exercise your right by doing any or all of these options.

Once you have notified ASIC of your wish to demonstrate why you should not be disqualified a delegate will write to you with further details of the hearing procedure. The delegate will also inform you of the delegate's decision as to whether the hearing will take place at one or more physical venues and/or by means of virtual enquiry technology.

If you do not wish to demonstrate why you should not be disqualified, a decision will be made by a delegate on the information available.

If you wish to have access to the documents listed in Attachment "B" you should contact ASIC as soon as possible. Access to documents which are identified as "confidential" may be given subject to strict conditions of confidentiality.

Dated this ___________________ day of __________________________

Signed …………………………………………………………

_____________________________________

(5) Delegate of the Australian Securities and Investments Commission

Attachments

Attachment "A"

Areas of concern

Attachment "B"

List of documents upon which concerns are based

DIRECTIONS

        1.     Insert name of person subject of the notice.
        2.     Insert name of person subject of the notice.
        3.     Insert number of corporations of which the person was an officer.
        4.     Insert names and ACNs of corporations.
        5.     Insert full name of delegate signing the notice.

Form 589
(subsection 206GAA(6))
Form 589

Corporations Act 2001

Subsection 206GAA(6)

Notice of disqualification from managing corporations

IN THE MATTER of (1)__________________________________

Notice of disqualification from managing corporations

under subsection 206GAA(6) of the Corporations Act 2001.

To: (2) ________________________________________________________

ASIC has given