Corporations Legislation Amendment (Simpler Regulatory System) Act 2007 (101 of 2007)

Schedule 1   Amendments

Part 3   Amendments commencing on Proclamation

Corporations Act 2001

206   Subsection 205B(6)

Repeal the subsection, substitute:

(6) Subsection (5) does not apply if:

(a) the person was an alternate director who stopped being a director in accordance with the terms of their appointment as an alternate director; or

(b) the person gives ASIC a written notice of the person's retirement or resignation as a director, alternate director or secretary of the company in accordance with section 205A.

Note: A defendant bears an evidential burden in relation to the matter in subsection (6), see subsection 13.3(3) of the Criminal Code.