21FExclusion of persons from groups

21F Exclusion of persons from groups

(1) Where: (a) a person (in this subsection referred to as the independent person) is a member of a group; and (b) the Commissioner is satisfied, having regard to: (i) the nature and degree of ownership or control of each of the businesses carried on by members of the group; (ii) the nature of those businesses; and (iii) any other matters that the Commissioner considers relevant, that the business, or each of the businesses, carried on by the independent person is carried on substantially independently of, and is not substantially connected with the carrying on of, a business carried on by any other member of that group; the Commissioner may, by order in writing served on the independent person, exclude the independent person from, or deem the independent person to have been excluded from, that group with effect from such date, not being a date later than the date of the order, as is specified in the order and, if the Commissioner does so, the Commissioner may specify in the order such circumstances in relation to the making of the order as the Commissioner considers appropriate. (2) The Commissioner shall not make an order under subsection (1) excluding a corporation from a group of which another corporation is or was a member with effect from a date specified in the order if the first‑mentioned corporation is or was a related body corporate of the second‑mentioned corporation for the purposes of the Corporations Act 2001 on that date. (3) Where: (a) an order under subsection (1) excluding a person from a group specifies circumstances in relation to the making of the order; and (b) any of those circumstances changes in a material respect; the person shall notify the Commissioner in writing within 7 days after that change. (4) A person who contravenes subsection (3) is, in respect of each day on which the person so contravenes that subsection (including the day of a conviction of an offence against this subsection or a subsequent day), guilty of an offence punishable on conviction by a fine not exceeding $50. (5) Where: (a) a person has been excluded from a group pursuant to an order under subsection (1); and (b) the Commissioner is no longer satisfied as mentioned in paragraph (1)(b); the Commissioner may, by notice in writing served on the person, revoke the order with effect from: (c) in a case to which paragraph (d) does not apply—the date of service of the notice; or (d) in a case where: (i) the order specifies circumstances in relation to the making of the order; and (ii) the reason, or one of the reasons, for the revocation of the order is a change in a material respect in any of those circumstances; the date on which that change occurred or, if there are 2 or more such changes, the date on which the earliest of those changes occurred.