sec.22Financial matters

### sec.22 Financial matters An individual is not a suitable person if the individual is bankrupt or, as a debtor, taking advantage of a law about bankrupt or insolvent debtors. A corporation is not a suitable person if the corporation— has executed a deed of company arrangement under the Corporations Act that has not yet terminated; or is the subject of a winding up (whether voluntarily or under a court order) under that Act; or is the subject of an appointment of an administrator, liquidator, receiver or receiver and manager under that Act. (sec.22-ssec.1) An individual is not a suitable person if the individual is bankrupt or, as a debtor, taking advantage of a law about bankrupt or insolvent debtors. (sec.22-ssec.2) A corporation is not a suitable person if the corporation— has executed a deed of company arrangement under the Corporations Act that has not yet terminated; or is the subject of a winding up (whether voluntarily or under a court order) under that Act; or is the subject of an appointment of an administrator, liquidator, receiver or receiver and manager under that Act. - (a) has executed a deed of company arrangement under the Corporations Act that has not yet terminated; or - (b) is the subject of a winding up (whether voluntarily or under a court order) under that Act; or - (c) is the subject of an appointment of an administrator, liquidator, receiver or receiver and manager under that Act.