Document ID: chunk:federal_register_of_legislation:C2004A04501:body:0:p13
Version: federal_register_of_legislation:C2004A04501
Segment Type: other
Provision Reference: 
Character Range: 82266–84961

by section 73A;

'guilty', in the case of a reference to a court finding a person guilty of an offence, has a meaning affected by section 73A;".

5. After section 73 of the Corporations Law the following section is inserted:

When a court is taken to find a person guilty of an offence

"73A. An Australian court finds a person guilty of an offence if, and only if:

  (a)     the court convicts the person of the offence; or

    (b)     the person is charged before the court with the offence and is found in the court to have committed the offence, but the court does not proceed to convict the person of the offence.".

Being or becoming subject to a section 229 prohibition, a section 230 or 599 order, a section 600 notice or a civil penalty disqualification

6. Section 91 of the Corporations Law is amended by inserting after subsection (4) the following subsection:

"(4A) A person is or becomes subject to a civil penalty disqualification if, and only if, an order relating to the person is in

force, or is made, as the case may be, under paragraph 1317EA(3)(a), and a reference to a civil penalty disqualification is a reference to an order so in force or made.".

Effect of such a prohibition, order, notice or disqualification

7. Section 91A of the Corporations Law is amended by omitting from subsection (1) "599 and 600" and substituting "588Z, 599, 600, 1317EA and 1317EF".

Vacation of office of director

  8. Section 224 of the Corporations Law is amended:

     (a) by adding at the end of paragraphs (1)(a), (b), (c), (d) and (e) or ;

    (b) by adding at the end of subsection (1) the following word and paragraph:

     "; or (h) becomes subject to a civil penalty disqualification.";

  (c) by inserting after subsection (6) the following subsection:

     "(6A) A person whose office is vacated because of paragraph (1)(h) cannot, without the leave of the Court granted under section 1317EF, be re-appointed as a director until the end of the period specified in the disqualification.".

Certain persons not to manage corporations

9. Section 229 of the Corporations Law is amended by inserting after paragraph (3)(c) the following word and paragraph:

      "or (d) of an offence of which the person is guilty because of subsection 1317FA(1);".

Court may order person not to manage corporation

  10. Section 230 of the Corporations Law is amended:

  (a)     by adding at the end of paragraphs (1)(a) and (b) "or";

     (b)     by omitting from paragraph (1)(d) all the words after "relevant officer" and substituting "of a body corporate (other than a corporation), the relevant person did an act, or made an omission, that would have constituted a contravention