Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 6 - OFFICERS  

PART 6-5 - DISQUALIFICATION FROM MANAGING CORPORATIONS  

Division 279 - Disqualification from managing corporations  

SECTION 279-5   AUTOMATIC DISQUALIFICATION  
Convictions

279-5(1)    
A person becomes disqualified from managing Aboriginal and Torres Strait Islander corporations if the person:

(a)    is convicted on indictment of an offence that:

(i) concerns the making, or participation in making, of decisions that affect the whole or a substantial part of the business of an Aboriginal and Torres Strait Islander corporation; or

(ii) concerns an act that has the capacity to affect significantly the financial standing of an Aboriginal and Torres Strait Islander corporation; or

(b)    is convicted of an offence that:

(i) is a contravention of this Act and is punishable by imprisonment for a period greater than 12 months; or

(ii) involves dishonesty and is punishable by imprisonment for at least 3 months; or

(c)    is convicted of an offence against the law of a foreign country that is punishable by imprisonment for a period greater than 12 months.

The offences covered by paragraph (a) and subparagraph (b)(ii) include offences against the law of a foreign country.

279-5(2)    
The period of disqualification under subsection (1) starts on the day the person is convicted and lasts for:

(a)    if the person does not serve a term of imprisonment - 5 years after the day on which the person is convicted; or

(b)    if the person serves a term of imprisonment - 5 years after the day on which the person is released from prison.

Bankruptcy or personal insolvency agreement

279-5(3)    
A person is disqualified from managing Aboriginal and Torres Strait Islander corporations if the person is an undischarged bankrupt under the law of Australia, its external territories or another country.

279-5(4)    
A person is disqualified from managing Aboriginal and Torres Strait Islander corporations if:

(a)    the person has executed a personal insolvency agreement under:

(i) Part X of the Bankruptcy Act 1966 ; or

(ii) a similar law of an external Territory or a foreign country; and

(b)    the terms of the agreement have not been fully complied with.

Disqualification under Corporations Act

279-5(5)    
A person is disqualified from managing Aboriginal and Torres Strait Islander corporations at a particular time if the person is, at that time, disqualified from managing Corporations Act corporations under Part 2D.6 of the Corporations Act .