Corporations Act 2001

On application by ASIC, the Court may disqualify a person from managing corporations for a period that the Court considers appropriate if:

a declaration is made under:

section 1317E (civil penalty provision) that the person has contravened a corporation/scheme civil penalty provision or subsection 670A(4), 727(6), 728(4) or 1309(12); or

section 386‑1 (civil penalty provision) of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 that the person has contravened a civil penalty provision (within the meaning of that Act); and

the Court is satisfied that the disqualification is justified.

In determining whether the disqualification is justified, the Court may have regard to:

the person’s conduct in relation to the management, business or property of any corporation; and

any other matters that the Court considers appropriate.

To avoid doubt, the reference in paragraph (2)(a) to a corporation includes a reference to an Aboriginal and Torres Strait Islander corporation.