52Registrar may give rectification order to directors if

52 Registrar may give rectification order to directors if property developer wound up etc (1) This section applies if— (a) the registrar— (i) believes on reasonable grounds that making a rectification order against a property developer is appropriate; or (ii) makes a rectification order against a property developer; and (b) the property developer is a corporation; and (c) before, or after, the registrar makes the order— (i) the property developer becomes the subject of a winding-up order; or

(ii) the developer is placed into administration, receivership or liquidation; or (iii) the developer is deregistered. (2) If the registrar is satisfied it is appropriate to do so, the registrar may, in relation to each person who was a director of the property developer at or after the time the residential building work resulting in the serious defect, or possible serious defect, was undertaken or stopped being undertaken— (a) if a rectification order has not been given to the property developer—give each person a proposed rectification order notice in accordance with section 48 as if they were the property developer; and (b) make a rectification order in accordance with section 49 against each person as if they were the property developer. (3) In considering whether it is appropriate to take action under subsection (2), the registrar must consider— (a) if a latent defects insurance policy or other similar insurance policy covers the work required to rectify the serious defect, or possible serious defect; and (b) any other matter prescribed by regulation. (4) This section does not apply to— (a) a person who was a director of a territory entity or a Commonwealth or State entity; or (b) a person excluded by regulation.