sec.117ZIAppointed board members must disclose particular matters

### sec.117ZI Appointed board members must disclose particular matters This section applies in relation to a person who is an appointed board member if, during the term of the person’s appointment, the person— becomes an insolvent under administration; or is disqualified from managing a corporation because of the Corporations Act , part 2D .6. The person must, unless the person has a reasonable excuse, immediately give written notice of the insolvency or disqualification to the Minister. Maximum penalty—100 penalty units. s 117ZI ins 2022 No. 8 s 4 amd 2023 No. 23 s 247 sch 1 s 2 (2) (sec.117ZI-ssec.1) This section applies in relation to a person who is an appointed board member if, during the term of the person’s appointment, the person— becomes an insolvent under administration; or is disqualified from managing a corporation because of the Corporations Act , part 2D .6. (sec.117ZI-ssec.2) The person must, unless the person has a reasonable excuse, immediately give written notice of the insolvency or disqualification to the Minister. Maximum penalty—100 penalty units. - (a) becomes an insolvent under administration; or - (b) is disqualified from managing a corporation because of the Corporations Act , part 2D .6.