Certain convicted offenders not to carry on business as general partners
74 Certain convicted offenders not to carry on business as general partners
A person who has been convicted within or outside this
State—
on an indictment of an offence in connection with the promotion, formation or management of a body corporate; or
of an offence involving fraud or dishonesty punishable by imprisonment for a period, or maximum period, of at least three months;
or
of a prescribed offence against the
Companies (South Australia)
Code, the Corporations
Law or the Corporations
Act 2001 of the Commonwealth, must not, within the period of five years after the conviction or, if the person was sentenced to imprisonment on such conviction, within the period of five years after release from prison, continue or commence (or recommence) to carry on business in this State as a general partner unless the person has obtained permission from the Tribunal to carry on business as a general partner. Maximum penalty: Maximum penalty: $5 000.
For the purposes of the South
Australian Civil and Administrative Tribunal Act 2013, an application for permission from the Tribunal will be taken to come within the Tribunal's original jurisdiction.
A person who intends to make an application for permission from the
Tribunal under this section must give the Commission at least 28 days' notice of the proposed application.
The Commission may be represented and heard at the hearing of an application under this section.
When granting permission under this section, the Tribunal may impose such conditions or limitations as it thinks fit and any person contravening or failing to comply with any such condition or limitation is guilty of an offence. Maximum penalty: Maximum penalty: $5 000.
In this section—
Tribunal means the South Australian Civil and
Administrative Tribunal established under the South Australian Civil and Administrative Tribunal
Act 2013.
This provision refers to the regulations (prescribed offence
). Made under this Act:
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