Document ID: chunk:federal_register_of_legislation:C2020A00006:clause:1_60
Version: federal_register_of_legislation:C2020A00006
Segment Type: clause
Provision Reference: sch 1 cl 60
Character Range: 29203–29787

60  After subsection 588M(1)
Insert:
 (1A) This section also applies if:
 (a) a person (the director) has contravened subsection 588GAB(1) or (2) or 588GAC(1) or (2) relating to disposition of property by a company; and
 (b) one or more creditors of the company have suffered loss or damage because of the disposition and the company's insolvency; and
 (c) the company is being wound up.
This section applies whether or not the director has been convicted of an offence relating to the contravention or a civil penalty order has been made against the director for the contravention.