19Disqualified persons must not act for ADIs or authorised NOHCs

#### 19 Disqualified persons must not act for ADIs or authorised NOHCs (1) A person commits an offence if: (a) the person is a disqualified person; and (b) the person is or acts as one of the following: (i) a director or senior manager of an ADI (other than a foreign ADI); (ii) a senior manager of the Australian operations of a foreign ADI; (iii) a director or senior manager of an authorised NOHC; (iv) an auditor of an ADI or an authorised NOHC; and (c) for a person who is a disqualified person only because he or she was disqualified under section 21—the person is disqualified from being or acting as that director, senior manager or auditor (as the case requires). Penalty: Imprisonment for 2 years. (2) A person commits an offence if: (a) the person is a disqualified person; and (b) the person is or acts as one of the following: (i) a director or senior manager of an ADI (other than a foreign ADI); (ii) a senior manager of the Australian operations of a foreign ADI; (iii) a director or senior manager of an authorised NOHC; (iv) an auditor of an ADI or an authorised NOHC; and (c) for a person who is a disqualified person only because he or she was disqualified under section 21—the person is disqualified from being or acting as that director, senior manager or auditor (as the case requires). Penalty: 60 penalty units. (3) An offence against subsection (2) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (4) A body corporate commits an offence if: (a) a person is a disqualified person; and (b) the person is or acts as one of the following: (i) if the body corporate is an ADI (other than a foreign ADI)—a director or senior manager of the body corporate; (ii) if the body corporate is a foreign ADI—a senior manager of the Australian operations of the body corporate; (iii) if the body corporate is an authorised NOHC—a director or senior manager of the body corporate; (iv) if the body corporate is an ADI or an authorised NOHC—an auditor of the body corporate; and (c) for a person who is a disqualified person only because he or she was disqualified under section 21—the person is disqualified from being or acting as that director, senior manager or auditor (as the case requires); and (d) in any case—the body corporate allows the person to be or act as a director, senior manager or auditor (as the case requires). Penalty: 250 penalty units. (5) A body corporate commits an offence if: (a) a person is a disqualified person; and (b) the person is or acts as one of the following: (i) if the body corporate is an ADI (other than a foreign ADI)—a director or senior manager of the body corporate; (ii) if the body corporate is a foreign ADI—a senior manager of the Australian operations of the body corporate; (iii) if the body corporate is an authorised NOHC—a director or senior manager of the body corporate; (iv) if the body corporate is an ADI or an authorised NOHC—an auditor of the body corporate; and (c) for a person who is a disqualified person only because he or she was disqualified under section 21—the person is disqualified from being or acting as that director, senior manager or auditor (as the case requires); and (d) in any case—the body corporate allows the person to be or act as a director, senior manager or auditor (as the case requires). Penalty: 60 penalty units. (6) An offence against subsection (5) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (8) A failure to comply with this section does not affect the validity of an appointment or transaction. (9) Subsections (1) to (8) have no effect until the end of the 3‑month period that begins at the commencement of this section. > Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.