Corporations Act - Australia

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of a notice or application under subsection 5H(2), 117(2), 205B(1), (2) or (4) or 601BC(2) must be their usual residential address unless they are entitled to have an alternative address substituted for their usual residential address under subsection (2).

      Entitlement to have alternative address

      (2) The person is entitled to have an alternative address substituted for their usual residential address if:

      (a) their name, but not their residential address, is on an electoral roll under the Commonwealth Electoral Act 1918 because of section 104 of that Act; or

      (b) their name is not on an electoral roll under that Act and ASIC determines, in writing, that including their residential address in the notice or application would put at risk their personal safety or the personal safety of members of their family.

      This alternative address must be in Australia and be one at which documents can be served on the person. At any particular time, a person is entitled to have only 1 alternative address under this section.

      Note: See subsection 109X(2) on the status of the alternative address as an address for service.

      (3) A person who takes advantage of subsection (2) must:

      (a) before or at the same time as the alternative address is first included in a notice or application, lodge with ASIC notice of the person’s usual residential address; and

      (b) lodge with ASIC notice of any change in the person’s usual residential address within 14 days after the change.

      A notice under this subsection must be in the prescribed form.

      (4) If a court gives a judgment for payment of a sum of money against a person who is taking advantage of subsection (2), ASIC may give details of the person’s usual residential address to an officer of the court for the purposes of enforcing the judgment debt.

      205E ASIC’s power to ask for information about person’s position as director or secretary

      (1) ASIC may ask a person, in writing, to inform ASIC:

      (a) whether the person is a director or secretary of a particular company; and

      (b) if the person is no longer a director or secretary of the company — the date on which the person stopped being a director or secretary.

      (2) The person must give the information to ASIC in writing by the date specified in the request.

      (3) An offence based on subsection (2) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      205F Director must give information to company

      (1) A director must give the company any information affecting or relating to the director that the company needs, or will need, to comply with Chapter 6. The director must give the information to the company as soon as practicable after becoming aware that the company needs, or will need, the information. The company must give the information to each of the other directors of the company within 7 days of receiving it.

      (2) An offence based on subsection (1) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      205G Listed company — director to notify market operator of shareholdings etc.

      Notifiable interests

      (1) A director of a listed public company must notify the relevant market operator under subsections (3) and (4) of the following interests of the director:

      (a) relevant interests in securities of the company or a related body corporate;

      (b) contracts:

      (i) to which the director is a party or under which the director is entitled to a benefit; and

      (ii) that confer a right to call for or deliver shares in, debentures of, or interests in a managed investment scheme made available by, the company or a related body corporate.

      Note: Under section 353, ASIC may determine conditions that must be complied with when lodging documents electronically under this subsection.

      (2) A notice of a relevant interest in securities under paragraph (1)(a) must give details of:

      (a) the number of securities; and

      (b) the circumstances giving rise to the relevant interest.

      Occasions for initial notification

      (3) The director must notify the relevant market operator within 14 days after each of the following occasions:

      (a) appointment as a director of the company;

      (b) the listing of the company.

      Paragraph (a) does not apply to a director who retires and is then reappointed at the same meeting.

      Note: Under section 353, ASIC may determine conditions that must be complied with when lodging documents electronically under this subsection.

      Updating notices

      (4) The director must notify the relevant market operator within 14 days after any change in the director’s interests.

      Note: Under section 353, ASIC may determine conditions that must be complied with when lodging documents electronically under this subsection.

      (5) The director need not give the information to the relevant market operator under this section if the director has already given the information to the relevant market operator.

      ASIC’s power to make class orders

      (6) ASIC may make an order in writing relieving a director of the obligation to notify the relevant market operator of an interest in a security or contract. The order may be made in respect of a specified class of companies, directors, securities or contracts.

      (7) The order may be expressed to be subject to conditions.

      (8) Notice of the making, revocation or suspension of the order must be published in the Gazette.

      Strict liability offences

      (9) An offence based on subsection (1), (3) or (4) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      Part 2D.6 — Disqualification from managing corporations

      206A Disqualified person not to manage corporations

      (1) A person who is disqualified from managing corporations under this Part commits an offence if:

      (a) they make, or participate in making, decisions that affect the whole, or a substantial part, of the business of the corporation; or

      (b) they exercise the capacity to affect significantly the corporation’s financial standing; or

      (c) they communicate instructions or wishes (other than advice given by the person in the proper performance of functions attaching to the person’s professional capacity or their business relationship with the directors or the corporation) to the directors of the corporation:

      (i) knowing that the directors are accustomed to act in accordance with the person’s instructions or wishes; or

      (ii) intending that the directors will act in accordance with those instructions or wishes.

      Note: Under section 1274AA, ASIC is required to keep a record of persons disqualified from managing corporations.

      (1A) For an offence based on subsection (1), strict liability applies to the circumstance, that the person is disqualified from managing corporations under this Part.

      Note: For strict

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