Determining whether a company is fit and proper
39C Determining whether a company is fit and proper
The Collector may, in considering whether a company is a fit and proper company, have regard to:
whether, within one year before making the application, the company has been charged with:
an offence against a provision of the Excise Acts; or
an offence against a law of the Commonwealth, a State or a Territory that is punishable by a fine of 50 penalty units or more; and
whether, within 10 years before making the application, the company was convicted of:
an offence against a provision of the Excise Acts; or
an offence against a law of the Commonwealth, a State or a Territory that is punishable by a fine of 50 penalty units or more; and
whether the company has held a licence that has been cancelled; and
whether a receiver of the property, or part of the property, of the company has been appointed; and
whether the company is under administration within the meaning of the Corporations Law; and
whether the company has executed under Part 5.3A of that Law a deed of company arrangement that has not yet terminated; and
whether the company has been placed under official management; and
whether the company is being wound up.
This Act’s bill:Explanatory memorandumSecond reading speech
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