134Disciplinary action against body corporates and directors

134 Disciplinary action against body corporates and directors

134 Disciplinary action against body corporates and directors

(1) The Secretary may take disciplinary action against each of the following if the Secretary is satisfied that grounds for taking disciplinary action against a registered body corporate have been established—

(a) the body corporate,

(b) a director of the body corporate,

(c) a former director of the body corporate.

(2) The Secretary must, before taking disciplinary action against a director or former director under this section—

(a) give the person a show cause notice in accordance with section 131, and

(b) take the other steps required by that section as if the person were a registered person.