Declared director
29 Declared director
This section applies if, in relation to a registered fine of a body corporate—
the body corporate is deregistered after the commission of the alleged offence; or
S. 29(1)(b) amended by No. 29/2016 s. 16(1)(a).
the person executing an enforcement warrant issued against the body corporate in relation to the registered fine returns that the person cannot find sufficient personal property of the body corporate to satisfy the amounts specified in the enforcement warrant together with all lawful costs of execution; or
S. 29(1)(c) inserted by No. 29/2016 s. 16(1)(b).
the person executing an enforcement warrant issued against the body corporate in relation to the registered fine is or may be able to find sufficient personal property of the body corporate to satisfy the amounts in the enforcement warrant together with all lawful costs of execution but, in the course of executing the enforcement warrant, the person becomes aware that the body corporate is under administration within the meaning of the Corporations Act.
Note to s. 29(1) inserted by No. 29/2016 s. 16(2).
Note
A person executing an enforcement warrant must not seize property of a body corporate that is under administration within the meaning of the Corporations Act.
If the Director is satisfied, based on the records of the Australian Securities and Investments Commission, that a person was a director of a body corporate to which this section applies at the time of the commission of the offence, the Director may serve the person with a declared director notice.
A declared director notice must state that the person—
is a declared director by force of this section; and
is jointly and severally liable for the payment of the registered fine; and
has 28 days from the date of service of the declared director notice to apply to the Magistrates' Court for an order under section 30 that the person is not a declared director.
Note
See section 179(2) which requires personal service of this notice.
Unless an order is made under section 30(4), a person who was a director of a body corporate to which this section applies who has been served with a declared director notice is—
by force of this section, a declared director; and
jointly and severally liable for the payment of the fine.
Unless an order is made under section 30(4), on and from 28 days after service of a declared director notice, the Director may take any enforcement action under this Act against a declared director in relation to a registered fine that can be taken against a natural person in relation to a registered fine.
S. 29(6) inserted by No. 29/2016 s. 16(3).
Before taking any enforcement action referred to in subsection (5), the Director must serve a notice of final demand on the declared director.
This Act’s bill:Explanatory memorandumSecond reading speech
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