Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p72
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
Provision Reference: 
Character Range: 180631–183474

and, if default is made in complying with this sub-section, the foreign company is guilty of an offence.
    Penalty: $1,000.".

Service of documents on recognised company or recognised foreign company
118. Section 529 of the Principal Act is amended by inserting in sub-section (6) "recognised company or" before "recognised foreign company".

Offences by officers of certain companies
119. Section 554 of the Principal Act is amended by adding at the end the following sub-section:
"(7) Where, in proceedings under sub-section (6), it is necessary to establish that a person has taken property in pawn or pledge, or otherwise received property—
     (a) in circumstances mentioned in sub-section (5); and
     (b) with the knowledge mentioned in that sub-section,
the matter referred to in paragraph (b) of this sub-section may be established on the balance of probabilities.".

Offences relating to incurring of debts or fraudulent conduct
120. Section 556 of the Principal Act is amended by inserting after sub-section (3) the following sub-section:
"(3a) In proceedings brought under sub-section (1) for the recovery of a debt, the liability of a person under that sub-section in respect of the debt may be established on the balance of probabilities.".

Falsification of books
121. Section 560 of the Principal Act is amended by omitting paragraph (2) (c) and substituting the following paragraph:
     "(c) having a duty to record or store matter by means of that device, fails to record or store the matter by means of that device—
         (i) with intent to falsify any entry made or intended to be compiled, wholly or in part, from matter so recorded or stored; or
         (ii) knowing that the failure so to record or store the matter will render false or misleading in a material particular other matter so recorded or stored,".

Court may disqualify person from acting as director, &c., in certain circumstances
122. Section 562 of the Principal Act is amended—
     (a) by omitting from sub-section (2) "company" and substituting "corporation"; and
     (b) by inserting after sub-section (4) the following sub-section:
    "(4a) A person who, immediately before the commencement of section 122 of the Companies and Securities Legislation (Miscellaneous Amendments) Act 1985, was subject to a section 562 order made under this section or under a corresponding provision of a previous law of the Territory shall not be taken to contravene or fail to comply with the order by reason only that, after that commencement,

      the person is concerned in or takes part in the management of, a body referred to in paragraph 469 (1) (b), not being a corporation.".

123. After section 562 of the Principal Act the following section is inserted:

Commission may order persons not to manage corporations
"562a. (1) For the purposes of