ASIC disqualifies NT directors from managing companies due to dishonesty

ASIC has identified, and removed from its corporate register, four Northern Territory company directors who have been disqualified from managing companies after being convicted of criminal offences involving dishonesty.

Identification was made possible due to the assistance of the Northern Territory Police Force.

The following directors have been disqualified and ceased as office holders:

  • Colin Voeuk of Voeuk Investments Pty Ltd and Wyndham Community Store Pty Ltd;
  • Aimee Pitman of Food is Life Pty Ltd;
  • Christopher Paul Deutrom of HugoJohn Pty Ltd; and
  • Walter Wilton of Dynavent Investments Pty Ltd.

ASIC has also banned Anthony John Lyness from managing companies for the maximum period of five years for his involvement in two failed companies (19-169MR).

‘If you are a director of a company and are convicted of a crime that involves dishonesty, you should remove yourself as a director immediately. Where ASIC becomes aware of this, we will remove those persons from the national corporate register. We thank the NT Police for their assistance in identifying individuals who should no longer be directors,’ said ASIC Commissioner John Price.

Background

The Corporation Act 2001 (the Act) provides for automatic disqualification of directors and/or secretaries from managing a corporation where the person is convicted of an offence that involves dishonesty and that offence is punishable by imprisonment for at least three months.

The Act also states a person who has been convicted of an offence of dishonesty is disqualified from taking part in the management of a corporation for a period of five years from either the date of their conviction; or if imprisoned, for a period of five years after being released from prison.

If the disqualified director or a secretary of a company continues to take part in the management of a company, this is an offence under the Act which carries a maximum penalty of $126,000 or 5 years imprisonment, or both.

Further information in respect of company director/officeholder obligations and entity obligations can be found on ASIC’s website.

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