Registrar's power of disqualification (cf Corporations Act s 206F (1) – (4))
187 Registrar's power of disqualification (cf Corporations Act s 206F (1) – (4))
(1) The Registrar may disqualify a person from managing co‑operatives for up to 5 years if:
(a) within 7 years immediately before the Registrar gives a notice under paragraph (b)(i):
(i) the person has been an officer of 2 or more co‑operatives; and
(ii) while the person was an officer, or within 12 months after the person ceased to be an officer of those co‑operatives, each of the co-operatives was wound up and a liquidator lodged a report about the co-operative's inability to pay its debts; and
the Registrar has given the person:
(i) a notice in the approved form requiring them to demonstrate why they should not be disqualified; and
an opportunity to be heard on the question; and
(c) the Registrar is satisfied that the disqualification is justified.
(2) If the Registrar disqualifies a person from managing co-operatives under this section, the Registrar must serve a notice on the person advising them of the disqualification.
The notice must be in the approved form.
(4) The disqualification takes effect from the time when a notice referred to in subsection (2) is served on the person.
This Act’s bill:Explanatory statement
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