48Meaning of suitable person—div 4.2

48 Meaning of suitable person—div 4.2 In this division: suitable person, for an application under this division, means a person who— (a) has not, within 2 years before the application is made, committed an offence under this Act or a corresponding law of a State; and (b) is not, and has not been within the 5 years before the application— (i) bankrupt or personally insolvent; or (ii) involved in the management of a corporation when the corporation was insolvent. Note 1 Bankrupt or personally insolvent—see the Legislation Act, dict, pt 1. Note 2 State includes the Northern Territory (see Legislation Act, dict, pt 1).