Corporations (Aboriginal and Torres Strait Islander) Act 2006
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
(b) is convicted of an offence that:
(ii) concerns an act that has the capacity to affect significantly the financial standing of an Aboriginal and Torres Strait Islander corporation; or
(i) is a contravention of this Act and is punishable by imprisonment for a period greater than 12 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.
(ii) involves dishonesty and is punishable by imprisonment for at least 3 months; or
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
(b) the terms of the agreement have not been fully complied with.
(ii) a similar law of an external Territory or a foreign country; and
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 .
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