Victorian Consolidated Legislation

Consumer Credit (Victoria) Act 1995 - SECT 37D

Certain persons not to be directors of or to manage or control corporations that engage in finance broking

37D. Certain persons not to be directors of or to manage or control
corporations that engage in finance broking



(1) A natural person is prohibited from being a director of, or managing or
effectively controlling, a corporation that engages in finance broking if he
or she is-

   (a)  prohibited from engaging in finance broking by virtue of section
        37C(1)(a); or

   (b)  a disqualified person who does not hold permission given by the
        Authority under Division 3 to be a director of, or manage or
        effectively control, a corporation that engages in finance broking (as
        the case may be).

(2) A natural person who is prohibited by subsection (1) from doing so must
not be a director of, or manage or effectively control, a corporation that
engages in finance broking.

Penalty: 240 penalty units or 2 years imprisonment.