Section 205B(1), (2), (4) and (5) of the Corporations Act 2001 (Cth) is ‘Notice of Name and Address of Directors and Secretaries to ASIC’ and is extracted below.
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Section 205B(1), (2), (4) and (5) of the Corporations Act 2001 (Cth) is Notice of Name and Address of Directors and Secretaries to ASIC and reads as follows:
Notice of Name and Address of Directors and Secretaries to ASIC
New directors or secretaries
(1) A company must lodge with ASIC a notice of the personal details of a director or secretary within 28 days after they are appointed. The notice must be in the prescribed form.
Note 1: If a person becomes a director under subsection 120(1) there is no appointment and no notice is required under this subsection.
Note 2: If a person who was appointed as an alternate director becomes a director under the terms of their appointment as an alternate director, there is no appointment as a director and no notice is required under this subsection.
New alternate directors
(2) A company must lodge with ASIC a notice of:
(a) the personal details of a person who is appointed as an alternate director; and
(b) the terms of their appointment (including terms about when the alternate director is to act as a director);
within 28 days after their appointment as an alternate director. The notice must be in the prescribed form.
(4) The company must lodge with ASIC notice of any change in the personal details of a director, alternate director or secretary within 28 days after the change. The notice must be in the prescribed form.
Notice required if person stops being a director or secretary
(5) If a person stops being a director, alternate director or secretary of the company, the company must lodge with ASIC notice of the fact within 28 days. The notice must be in the prescribed form.
The maximum penalty for the offence of breaching Notice of Name and Address of Directors and Secretaries to ASIC is:
1 year imprisonment and/or 60 penalty units (a Commonwealth penalty unit is currently $210).
However, it should be kept in mind that maximum penalties are reserved for the most serious cases.
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