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International Law

: Australian Regulatory Compliance Review

Trans-Tasman disqualification of disqualified directors

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The Minister for Superannuation and Corporate Law has announced that the Government will introduce legislation to ensure that persons who are disqualified from managing companies in New Zealand will also be disqualified in Australia.

The amendments to the Corporations Act 2001 will be modelled on the existing New Zealand provisions to ensure cross-border consistency.

Additionally, disqualification in another country will constitute a ground for the Australian Securities and Investment Commission to apply to an Australian court for an order that that person be disqualified in Australia.

Draft legislation will be developed over the  coming months.

Full post as published by Australian Regulatory Compliance Review on February 26, 2008 (boomark / email).

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