Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:9_31
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 9 cl 31
Character Range: 398526–399156

31  Subsection 448C(3)
Repeal the subsection, substitute:

 (3) For the purposes of this section, a person is taken to be a director, secretary, senior manager, employee or auditor of a company if:
 (a) the person is or has, within the last 2 years, been a director, secretary, senior manager, employee, auditor or promoter of the company or a related body corporate; and
 (b) ASIC has not directed that the person not be taken to be a director, secretary, senior manager, employee or auditor for the purposes of this section.
ASIC may give a direction under paragraph (b) only if it thinks fit in the circumstances of the case.