sec.20Requirement to disclose particular matters about disqualification

### sec.20 Requirement to disclose particular matters about disqualification This section applies if a person who is a board member— becomes an insolvent under administration; or is disqualified from managing corporations because of the Corporations Act , part 2D .6. See section 50 for the requirement to give notice of a change in the person’s criminal history. The person must, unless the person has a reasonable excuse, immediately give the Minister notice under subsection (3) about becoming an insolvent under administration or being disqualified from managing corporations. Maximum penalty—100 penalty units. The notice must state— that the person has become an insolvent under administration or is disqualified from managing corporations because of the Corporations Act , part 2D .6; and when the person became an insolvent or was disqualified; and for being disqualified from managing corporations—details adequate to identify the grounds of the disqualification. (sec.20-ssec.1) This section applies if a person who is a board member— becomes an insolvent under administration; or is disqualified from managing corporations because of the Corporations Act , part 2D .6. See section 50 for the requirement to give notice of a change in the person’s criminal history. (sec.20-ssec.2) The person must, unless the person has a reasonable excuse, immediately give the Minister notice under subsection (3) about becoming an insolvent under administration or being disqualified from managing corporations. Maximum penalty—100 penalty units. (sec.20-ssec.3) The notice must state— that the person has become an insolvent under administration or is disqualified from managing corporations because of the Corporations Act , part 2D .6; and when the person became an insolvent or was disqualified; and for being disqualified from managing corporations—details adequate to identify the grounds of the disqualification. - (a) becomes an insolvent under administration; or - (b) is disqualified from managing corporations because of the Corporations Act , part 2D .6. - (a) that the person has become an insolvent under administration or is disqualified from managing corporations because of the Corporations Act , part 2D .6; and - (b) when the person became an insolvent or was disqualified; and - (c) for being disqualified from managing corporations—details adequate to identify the grounds of the disqualification.