Restrictions on disqualified persons
90 Restrictions on disqualified persons
In this section —
disqualified person means a person who —
has been convicted of an offence, whether before, on or after the day on which this section comes into operation and whether in this State or elsewhere, and is in prison serving a sentence of imprisonment; or
has been convicted of an offence under this Act that is prescribed; or
is disqualified from managing corporations under the Corporations Act; or
is disqualified in prescribed circumstances from —
being a general partner in a limited partnership or incorporated limited partnership; or
managing a limited partnership or incorporated limited partnership.
A disqualified person must not, except with the leave of the Commissioner —
be a general partner in a limited partnership or incorporated limited partnership; or
manage a limited partnership or incorporated limited partnership.
Penalty for this subsection: a fine of $10 000 and imprisonment for 1 year.
This provision refers to the regulations (prescribed circumstances
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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