Data-matching program with AFSA
The Australian Securities and Investments Commission (ob体育) matches data from a public database called the National Personal Insolvency Index (NPII), which is managed by the Australian Financial Security Authority (AFSA), with data from ob体育鈥檚 public database called the Companies Register.
The objectives of the data-matching program are to:
- identify persons who are recorded on the Companies Register as being current officeholders of companies but are automatically disqualified from managing corporations under section 206B(3) and (4) of the Corporations Act, and
- update ob体育鈥檚 registers where appropriate and ensure that publicly available information is accurate and up to date.
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1 Overview
The Guidelines for Data-matching in Commonwealth Administration, issued by the Office of the Federal Privacy Commissioner, specify that a program protocol be prepared by agencies undertaking certain data-matching programs. These guidelines are voluntary and are not legally binding. The Australian Securities and Investments Commission ("ob体育") has agreed to comply with the guidelines.
ob体育 is an independent Commonwealth government body established by the Australian Securities and Investments Commission Act 1989 and continued in existence by the Australian Securities and Investments Commission Act 2001 ("the ob体育 Act"). ob体育 enforces company and financial services laws to protect consumers, investors and creditors. In performing its functions and exercising its powers ob体育 is enjoined to strive, among other things, to:
- maintain, facilitate and improve the performance of the financial system and the entities within that system in the interests of commercial certainty, reducing business costs, and the efficiency and development of the economy;
- promote the confident and informed participation of investors and consumers in the financial system;
- ensure that information is available as soon as practicable for access by the public; and
- take whatever action it can take, and is necessary, in order to enforce and give effect to the laws of the Commonwealth that confer functions and powers on it. (See subsection 1(2) of the ob体育 Act.)
ob体育 maintains Australia's public database called "ASCOT" that contains information on over 1.3 million Australian companies (see sections 1274, 1274AA and 1274A of the Corporations Act 2001 and the Corporations Regulations 2001 (the Regulations)). ASCOT contains the details of company officeholders, including directors and secretaries.
The Australian Financial Services Authority ("AFSA") is an Executive Agency in the Commonwealth Attorney-General's portfolio and is responsible for the administration and regulation of the personal insolvency system in Australia. AFSA also maintains the public records on personal insolvency on a publicly accessible register of all bankruptcies and personal insolvencies in Australia known as the National Personal Insolvency Index ("NPII") (see the Bankruptcy Act 1966 and the Bankruptcy Regulations 1996).
A person;
- who is an undischarged bankrupt; or
- who, prior to 1 December 2004, has executed a deed of arrangement under Part X of the Bankruptcy Act 1966 ("Part X") where the terms have not been fully complied with; or
- whose creditors, prior to 1 December 2004, have accepted a composition under Part X where final payment has not been made under the composition; or
- has, on or after 1 December 2004, executed a personal insolvency agreement under Part X of the Bankruptcy Act 1966 or a similar law of an external Territory or a foreign country and the terms of the agreement have not been fully complied with;
is automatically disqualified from managing corporations by operation of subsections 206B(3) and (4) of the Corporations Act. Such a person ceases to be a director, alternate director or a secretary of a company unless they are given leave by the Court to manage corporations in accordance with section 206G of the Corporations Act. Such persons who continue to manage corporations without the leave of the Court are guilty of an offence under the Corporations Act (section 206A of the Corporations Act).
In accordance with subsection 205B(5) of the Corporations Act if a person ceases being a director, alternate director or secretary of the company, the company has an obligation to lodge with ob体育 a notice of the fact within 28 days. It is an offence to fail to notify ob体育.
ob体育 and AFSA entered into a Memorandum of Understanding on 22 April 2002. The Memorandum of Understanding was entered into in recognition that cooperation between them is desirable bearing in mind ob体育's responsibilities for the regulation of corporate insolvencies and AFSA's role as regulator of personal bankruptcies.聽聽
2 Objectives
The results of this data-matching program between the ob体育 public database ASCOT and the AFSA public database NPII will be used by ob体育:
- to identify persons who are recorded on ASCOT as being current officeholders of companies but who are:
- an undischarged bankrupt; or
- who, prior to 1 December 2004, has executed a deed of arrangement under Part X where the terms have not been fully complied with; or
- whose creditors, prior to 1 December 2004, have accepted a composition under Part X where final payment has not been made under the composition; or
- has, on or after 1 December 2004, executed a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country and the terms of the agreement have not been fully complied with;
- to update ASCOT where appropriate; and
- to investigate possible breaches of the law.
AFSA聽will not have access to the results of the data-matching program.
3 Agencies involved
ob体育 is the matching agency. The data-matching program will be run on ob体育 computer facilities. Approximately 4.1 million current officeholder records on the ASCOT public database will be matched with approximately 300,000 NPII public records.
AFSA will contribute data relating to:
- undischarged bankrupts;
- persons who, prior to 1 December 2004, have executed a deed of arrangement under Part X where the terms have not been fully complied with;
- persons whose creditors, prior to 1 December 2004, have accepted a composition under Part X and where final payment has not been made under the composition; and
- persons who, on or after 1 December 2004, have executed a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country where the terms of the agreement have not been fully complied with.
ob体育 and AFSA will be the source agencies. ob体育 data derived from ASCOT includes:
- ob体育 person number (which is used internally to enable accurate cross-referencing of information);
- company officeholder's name;
- company officeholder's date of birth; and
- company officeholder's address.
AFSA data derived from the NPII includes:
- name of person who:
- is an undischarged bankrupt; or
- prior to 1 December 2004, has executed a deed of arrangement under Part X where the terms have not been fully complied with; or
- whose creditors, prior to 1 December 2004, has accepted a composition under Part X and final payment has not been made under the composition; or
- who, on or after 1 December 2004, has executed a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country where the terms of the agreement have not been fully complied with;
- person's date of birth;
- person's address;
- in the case of bankruptcy, date of commencement and, if applicable, discharge; and
- in the case of a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country or a deed of arrangement or composition under Part X, date upon which all of the relevant obligations have been met, if any.
4 Data issues
Data quality: Under subsection 205B(5) of the Corporations Act a company must, within 28 days of a person ceasing to hold office as a director or secretary of the company, notify ob体育. This includes cessation because a person has become automatically disqualified from managing a corporation due to:
- bankruptcy; or
- prior to 1 December 2004, executing a deed of arrangement under Part X where the terms have not been fully complied with; or
- prior to 1 December 2004, the person's creditors accepting a composition under Part X and final payment has not been made; or
- on or after 1 December 2004, executing a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country where the terms of the agreement have not been fully complied with.
A person can also directly notify ob体育 that they have ceased to hold office as a director or secretary of a company.
Data integrity: Measures taken to maintain integrity levels include designing systems that will not accept incomplete records, and identifying and correcting records with inadequate or corrupt data. Prior to data-matching the NPII records will be screened to ensure that they contain reliable, accurate and timely information. This will involve applying business rules that specify the minimum data requirements an NPII record must satisfy to pass as a valid record for matching against ASCOT data. The business rules are set out in Appendix A. NPII records that do not match the specified minimum data requirements will be deleted and not used in the data-matching process.
Matching reports will then be generated using the screened NPII records to identify persons who are recorded on ASCOT as being current officeholders and whose name and date of birth data have an exact match with NPII data. All matching reports will be manually verified for data quality assurance. This includes comparing ASCOT and NPII address information for each person identified in the matching reports. A person will be deemed to be a "match" for possible administrative action by ob体育 where the ASCOT and NPII data match on name(s), date of birth and address. Where any of these data elements are missing, incomplete or inconsistent it is deemed that these persons cannot be matched and no further action will be taken.
Data Security: ob体育 staff are subject to the confidentiality provisions of the ob体育 Act, the ob体育 Code of Conduct and ob体育 information management policies. Access to ASCOT data is currently strictly controlled and entry properly authorised. Features include logon identification codes, passwords and security groupings to ensure that access to information is on a "need to know" basis only. Existing security arrangements in ob体育 automatically log user access to data files.
Each cycle in the matching program will produce statistics on the number of records matched and unmatched. When each matching report is actioned, ob体育 will maintain a record of the logon identification code of the actioning officer, the action that was taken in respect of the matched report and when the action was taken.
Where ob体育 receives information from AFSA in accordance with this program protocol, it will take all reasonable steps to ensure that such information is only used for the purpose for which it was obtained.
5 The matching process
On a weekly basis ob体育 will download from AFSA an NPII update file using a secure web interface that is password protected at each level. The file includes the details of:
- new bankrupt persons;
- those who, prior to 1 December 2004,
- executed a deed of arrangement under Part X where the terms have not been fully complied with; or
- who have accepted a composition under Part X where final payment has not been made under the composition;
- those who, on or after 1 December 2004, have executed a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country where the terms of the agreement have not been fully complied with; and
- updates with respect to existing bankruptcies, personal insolvency agreements and deeds of arrangement or compositions under Part X.
Downloaded NPII records will then be screened prior to an automated matching report being generated each week. This will involve applying business rules that specify the minimum data requirements an NPII record must satisfy to pass as a valid record for matching against ASCOT data. (See the business rules set out in Appendix A.) NPII records that do not match the specified minimum data requirements will be rejected.
The matching reports will identify those persons who are recorded on ASCOT as being current officeholders and whose ASCOT data matches the NPII data with respect to:
- surname;
- first given name;
- other given names (if any); and
- date of birth.
All matching reports will be manually verified for data quality assurance. This includes staff comparing ASCOT and NPII address information for each person identified in the matching reports. Where an address match between ASCOT and ITSA data is confirmed in respect of a particular person, that person will be deemed to be a "match" for possible administrative action by ob体育.
Where it is not possible to confirm an address match the record relating to the person concerned will be rejected and the information destroyed as soon as practicable after the relevant matching process has been completed. This will occur no later than 90 days after the matching report was generated. No further action will be taken against the person concerned.
Further verification will take place with regard to the persons deemed to be a "match" for possible administrative action by ob体育. This is to see if any of the relevant data has been updated since the generation of the relevant matching report. An additional report will be generated from existing ob体育 data to identify the last notified address held by ob体育 in respect of each matched person, and all current company roles held by them, as recorded on ASCOT. Any inconsistent address information will be manually verified prior to any administrative action being taken. Any administrative action by ob体育 will be taken no later than 90 days after the matching process has been completed.
6 Action resulting from the program
(1) All matched persons selected for possible administrative action by ob体育 will be sent an initial notice. This first notice is set out in Appendix B. It will be sent to their last notified address held by ob体育 as recorded on ASCOT. It will advise the person of the match and that they may be disqualified from managing a corporation. A Form 296 Notification of disqualification from managing a corporation (Form 296) will be included with the notice. The Form 296 is set out in Appendix C.
The notice shall provide the person concerned with an opportunity to notify ob体育 within 28 days of their current status by either:
- lodging confirmation of the disqualification using the enclosed Form 296; or
- providing written information to satisfy ob体育 that the person is not bankrupt or otherwise disqualified.
The person concerned, therefore, has an opportunity to respond to the information about the match before any action is taken by ob体育.
(2) Where a person completes the Form 296 and lodges it with ob体育 within the 28 day period specified, ob体育 will update ASCOT to reflect the information provided therein.
(3) Where written correspondence is received from the person refuting that they are bankrupt or otherwise disqualified, ob体育 may investigate the matter further. Documentary evidence may be requested from the person during this process. What, if any, further action may be taken as a result of ob体育's investigation will in turn depend on the facts of each matter.
(4) Where the person concerned does not respond to the notice within 28 days or the notice is "returned to sender", a second notice will be sent to the registered office of each company of which the person is recorded on ASCOT as being a current officeholder. This second notice is set out in Appendix D. It will inform each company of the match and that the person so recorded may be disqualified from managing a corporation.
The notice shall provide the company with an opportunity to notify ob体育 within 21 days of the current status of the person concerned by either:
- lodging confirmation of the cessation of the officeholder using a Form 484 Change to company details (Form 484); or
- providing written information to satisfy ob体育 that the person is not disqualified.
The company, therefore, has an opportunity to respond to the information about the match before any action is taken by ob体育.
(5) Where the company completes a Form 484 and lodges it with ob体育 within the 21 day period specified, ob体育 will update ASCOT to reflect the information provided therein.
(6) Where written correspondence is received from the company or person concerned refuting that the person is disqualified, ob体育 may investigate the matter further. Documentary evidence may be requested from the company or person during this process. What, if any, further action may be taken as a result of ob体育's investigation will in turn depend on the facts of each matter.
(7) Where the company does not respond to the second notice within 21 days or the notice is "returned to sender" a third notice will be sent to the principal place of business of each company of which the person is recorded on ASCOT as being a current officeholder. This third notice is set out in Appendix E. It shall advise the company that as no response has been received ob体育 intends to update ASCOT within 14 days to show that the person concerned has ceased to be an officeholder of the company. The company, therefore, has another opportunity to respond to the information about the match before any action is taken by ob体育.
(8) Where the company completes a Form 484 and lodges it with ob体育 within the 14 day period specified, ob体育 will update ASCOT to reflect the information provided therein.
(9) Where written correspondence is received from the company or person concerned refuting that the person is disqualified, ob体育 may investigate the matter further. Documentary evidence may be requested from the company or person during this process. What, if any, further action may be taken as a result of ob体育's investigation will in turn depend on the facts of each matter.
(10) Where the company does not respond to the third notice within 14 days or the notice is "returned to sender", ob体育 will update ASCOT to show that the person concerned ceased to be an officeholder of the company. A final notice will then be sent to each company of which the person was an officeholder to advise that ob体育 has taken such action. This final notice is set out in Appendix F.
7 Time limits applying to the conduct of the program
Data will be destroyed in accordance with the Office of the Federal Privacy Commissioner's guidelines on The Use of Data-matching in Commonwealth Administration.
Each week a matching report will be generated from the NPII download. NPII data deemed unsuitable for data-matching will be not used in the matching process and will be destroyed as soon as practicable after the relevant matching process has been completed. This will occur no later than 90 days after the matching report was generated. Matched NPII data stored and used as part of the matching process will also be manually destroyed within 90 days of being generated.
8 Public notice of the program
A notice announcing the commencement of the matching program was published in the on 24 February 2004.
9 Relationship with the agencies鈥� lawful functions and activities
The program is directly related to ob体育's statutory obligations with respect to the maintenance of public registers and to ensure the integrity of the information on those registers (see Part 9.1 of the Corporations Act, the Regulations and subsection 1(2) of the ob体育 Act).
Further, the Royal Commission into the Building and Construction Industry ("the Cole Royal Commission") considered the issue of, and made a number of recommendations with respect to, bankrupt persons acting as directors of companies in the building and construction industry. The program is consistent with the recommendations made by the Cole Royal Commission in this regard.
10 Legal authority
As noted above, ob体育 is enjoined to enforce and give effect to the laws of the Commonwealth that confer functions and powers on it (subsection 1(2) of the ob体育 Act).
ob体育, through the program, aims to ensure compliance with the legal requirement that a company notify ob体育 of the cessation of its officeholders (see subsection 205B(5) of the Corporations Act). Further, as noted above, a person;
- who is an undischarged bankrupt; or
- who, prior to 1 December 2004, has executed a deed of arrangement under Part X where the terms have not been fully complied with; or
- whose creditors, prior to 1 December 2004, have accepted a composition under Part X where final payment has not been made under the composition; or
- has, on or after 1 December 2004, executed a personal insolvency agreement under Part X or a similar law of an external Territory or a foreign country and the terms of the agreement have not been fully complied with;
is automatically disqualified from managing corporations by operation of subsections 206B(3) and (4) of the Corporations Act. Such persons cease to be a director, alternate director or a secretary of a company unless they are given leave by the Court to manage corporations in accordance with section 206G of the Corporations Act. Such persons who continue to manage corporations without the leave of the Court are guilty of an offence under the Corporations Act (see section 206A of the Corporations Act).
ob体育 also aims to ensure compliance with such laws by reminding the purported officeholders and companies concerned that it is an offence for persons who are bankrupt or otherwise disqualified to manage a corporation. ob体育 may also take further action where appropriate.
ob体育 has a further objective of updating ASCOT information on company officeholders where appropriate. ASCOT is a register that ob体育 maintains in accordance with section 1274 of the Corporations Act. ob体育 is enjoined to ensure that information is available as soon as practicable for access by the public (subsection 1(2) of the ob体育 Act).
The use and disclosure of information in these circumstances are authorised by law and may be reasonably necessary for the enforcement of the criminal law or a law imposing a pecuniary penalty. Information Privacy Principles 10(c) and 11(d) in section 14 of the Privacy Act 1988 clearly apply. To the extent law enforcement is involved, Information Privacy Principles 10(d) and 11(e) may also apply.
11 Alternative method
There is no alternative single source of information available in relation to the connection between persons who are recorded on ASCOT as being current officeholders and those persons who are bankrupt or otherwise disqualified from managing corporations.
12 Costs and benefits
A project has been established to develop and implement this program for ob体育.
The establishment costs are largely comprised of staff costs associated with the development of systems and processes to manage the program. The total cost of the project is low with staff opportunity costs estimated to be less than $50,000. No cash expenditure is required on goods and services.
Costs associated with conducting weekly runs of the program and with following up data matches are expected to be minimal as the potential number of matches is estimated to be approximately 8-10 per week.
It is expected that there will be an improvement in voluntary compliance by companies with statutory obligations to notify ob体育 of changes in circumstances of officeholders. This will be due to the increased likelihood that ob体育 will be able to detect whether a person recorded on ASCOT as being a current officeholder has been automatically disqualified from managing a corporation.
It is also expected that the maintenance of the ob体育 public registers will be improved, as the information they contain about officeholders will become more up-to-date through improved notification of changes and the verification of such information through the data-matching process. Better data quality and integrity for the public may enhance the confident and informed participation of investors and consumers in the financial system. Improvements in ob体育's administration and control of the processing of bankruptcy and Part X notifications is also expected.
ob体育 plans to conduct a review of the program once implemented to assess the effectiveness and efficiency of the program as well quantify the expected benefits and costs.
Appendix A: Business rules
These business rules specify the minimum data requirements an NPII record must satisfy to pass as a valid record for the purposes of the data-matching program:
| NPII Data Item | Field Value |
|---|---|
| Surname | Must be populated |
| First given name | Must be populated |
| Other given name/s | May be blank |
| Date of birth | Must be populated |
| Address | Must be populated. Minimum of Town and State |
| Date started | Must be populated. Must be less than 2 years and 10 months from download date |
| Date ended | Must be blank |
| Date deceased | Must be blank |
| Date Statement of affairs filed | If populated must be less than 2 years and 10 months old from the download date |
| Bankrupt type | Must be either Sequestration, Composition, Arrangement, Debtor's Petition or Personal Insolvency Agreement |
| Petitioning Creditor result | Must be either 'Null', 'Composition', 'Arrangement' or 'Personal Insolvency Agreement' |
Appendix B: First notice
Dear Sir/Madam
Possible disqualification from managing corporations
The Australian Securities and Investments Commission (ob体育) has received publicly available information from the Australian Financial Security Authority indicating that you may be a person who:
- is an undischarged bankrupt under the Bankruptcy Act 1966; or
- a person who has entered into a personal insolvency agreement under Part X of the Bankruptcy Act 1966 or a similar law of an external Territory or a foreign country and the terms of the agreement have not been fully complied with.
Such persons are automatically disqualified from managing corporations under subsection 206B(3) or (4) of the Corporations Act 2001. This includes company officeholders.
To determine if your current status on ob体育's corporate register is correctly recorded, ob体育 requires you to respond within 28 days of the date of this letter, in one of the following ways:
- by providing evidence establishing that you are not a person who is automatically disqualified from managing corporations, or
- if you are automatically disqualified, by completing and returning the enclosed Form 296 (Notice of disqualification from managing corporations 鈥� Bankruptcy or Part X arrangement).
If you need assistance or require more information, please visit our website at www.asic.gov.au, contact ob体育's infoline on 1300 300 630 or make an enquiry at .
Yours faithfully
Margaret Boothman
Senior Manager Registry Services
Registry Services & Licensing
Appendix C: Form 296
Appendix D: Second notice
Dear Sir/Madam
Possible disqualification from managing corporations
Company Name
ACN
RE: 芦First_Given_Name禄 芦Surname禄
The Australian Securities and Investments Commission (ob体育) has received publicly available information from the Australian Financial Security Authority indicating that the above-named person may be a person who:
- is an undischarged bankrupt under the Bankruptcy Act 1966; or
- a person who has entered into a personal insolvency agreement under Part X of the Bankruptcy Act 1966 or a similar law of an external Territory or a foreign country and the terms of the agreement have not been fully complied with.
Such persons are automatically disqualified from managing corporations under subsection 206B(3) or (4) of the Corporations Act 2001. This includes company officeholders.
To determine if their current status on ob体育's corporate register is correctly recorded, ob体育 wrote to the person on 芦First_Letter_Date禄 giving that person an opportunity to respond but has received no response.
ob体育 now requires your company to respond within 21 days of the date of this letter, in one of the following ways:
- by providing evidence establishing that the person is not a person who is automatically disqualified from managing corporations, or
- if the person is automatically disqualified, by completing and returning a Form 484 (Change to company details) advising, in accordance with subsection 205B(5) of the Corporations Act 2001, that the person ceased to be an officeholder of your company. In the case of a single officeholder company, the person will need to complete and return Form 296 (Notice of disqualification from managing corporations 鈥� Bankruptcy or Part X arrangement).
If you need assistance or require more information, please visit our website at www.asic.gov.au, contact ob体育's infoline on 1300 300 630 or make an enquiry - see Contact us.
Yours faithfully
Margaret Boothman
Senior Manager Registry Services
Registry Services & Licensing
Appendix E:Third notice
Dear Sir/Madam
Possible disqualification from managing corporations
芦颁辞尘辫补苍测冲狈补尘别禄
ACN 芦ACN禄
RE: 芦First_Given_Name禄 芦Surname禄
On 芦Second_Letter_Date禄 the Australian Securities and Investments Commission (ob体育) wrote to your company at the Registered Office. This letter advised that ob体育 has received publicly available information from the Australian Financial Security Authority indicating the above-named person may be a person who:
- is an undischarged bankrupt under the Bankruptcy Act 1966; or
- a person who has entered into a personal insolvency agreement under Part X of the Bankruptcy Act 1966 or a similar law of an external Territory or a foreign country and the terms of the agreement have not been fully complied with.
Such persons are automatically disqualified from managing corporations under subsection 206B(3) or (4) of the Corporations Act 2001. This includes company officeholders.
To determine if their current status on ob体育's corporate register is correctly recorded, ob体育 further advised that it had written to the person on 芦First_Letter_Date禄 giving that person an opportunity to respond to this matter, but had not received a response.
Your company was then asked to respond in one of the following ways:
- by providing evidence establishing that the above-named person is not a person who is automatically disqualified from managing corporations, or
- if the person is automatically disqualified, by completing and returning a Form 484 (Change to company details) advising, in accordance with subsection 205B(5) of the Corporations Act 2001, that the person ceased to be an officeholder of your company. In the case of a single officeholder company, the person will need to complete and return a Form 296 (Notice of disqualification from managing corporations 鈥� Bankruptcy or Part X arrangement).
ob体育 has not yet received a response from your company. If no response is received within 14 days of the date of this letter, ob体育 will proceed on the basis that the above-named person is disqualified from managing corporations and will update its corporate register to show that the person has, in accordance with subsection 206A(2) of the Corporations Act 2001, ceased to be an officeholder of your company.
If you need assistance or require more information, please visit our website at www.asic.gov.au, contact ob体育's infoline on 1300 300 630 or make an enquiry - see Contact us.
Yours faithfully
Margaret Boothman
Senior Manager Registry Services
Registry Services & Licensing
Appendix F: Final notice
Dear Sir/Madam
Disqualified person ceased to be an officeholder of your company
芦颁辞尘辫补苍测冲狈补尘别禄
ACN 芦ACN禄
RE: 芦First_Given_Name禄 芦Surname禄
On 芦date_we_first_wrote_to_company_about_dis禄 the Australian Securities and Investments Commission (ob体育) wrote to your company at its Registered Office. This letter advised that ob体育 had received publicly available information from the Australian Financial Security Authority indicating that the above-named person, who was at the time recorded on ob体育's corporate register as being a current officeholder of your company, may be a person who is automatically disqualified from managing corporations under subsection 206B(3) or (4) of the Corporations Act 2001.
ob体育 further advised that it had written to the person on 芦First_Letter_Date禄 giving that person an opportunity to respond to this matter but had received no response.
Your company was then given an opportunity to respond. As no response was received, ob体育 sent a reminder on 芦date_of_second_letter_to_company_about_d禄 to your principal place of business. ob体育 indicated in this letter, that if it received no response within 14 days it would proceed on the basis that the above-named person is disqualified from managing corporations and would update its corporate register.
As ob体育 has received no response from your company, it has updated its corporate register to show that the above-named person has, in accordance with subsection 206A(2) of the Corporations Act 2001, ceased to be an officeholder of your company.
If you need assistance or require more information, please visit our website at www.asic.gov.au, contact ob体育's infoline on 1300 300 630 or make an enquiry - see Contact us.
Yours faithfully
Margaret Boothman
Senior Manager Registry Services
Registry Services & Licensing
Public notice of the program (24 February 2004)
Commonwealth of Australia Gazette notice:
VICTORIA
NOTICE OF PROPOSED DATA-MATCHING PROGRAM
The Australian Securities and Investments Commission (ob体育) shall commence a data-matching program on 2 March 2004.
The program will match data from a public database called the National Personal Insolvency Index (NPII), which is managed by the Insolvency and Trustee Service Australia (ITSA), with data from ob体育鈥檚 public database containing information on over 1.3 million Australian companies called ASCOT.
The objectives of the data-matching program will be to enable ob体育:
- to identify persons who are recorded on ASCOT as being current officeholders of companies but who are:
- an undischarged bankrupt; or
- a person who has executed a deed of arrangement under a Part聽X of the Bankruptcy Act 1966 (Part聽X) where the terms have not been fully compiled [sic] with; or
- a person whose creditors have accepted a composition under Part聽X where final payment has not been made under the composition, and therefore automatically disqualified from managing corporations by operation of subsections 206B(3) and (4) of the Corporations Act;
- to use the results of the data-matching program to update ASCOT where appropriate; and
- to investigate possible breaches of the law.
ob体育 will be the matching agency. Matching will be undertaken on ob体育 computer facilities each week. ITSA will contribute data from NPII relating to persons described in paragraph 1 above. Officeholder records held on ASCOT will be matched against this NPII data. ob体育 data involved in the data-matching program includes:
- ob体育 person number (that is used internally to enable accurate cross-referencing of information);
- company officeholder鈥檚 name;
- company officeholder鈥檚 date of birth; and
- company officeholder鈥檚 address.
ITSA data, against which ob体育 data will be matched, includes:
- name of person who is bankrupt or who has executed a deed of arrangement under Part聽X where the terms have not been fully compiled [sic] with or whose creditors have accepted a composition under Part聽X where final payment has not been made under the composition;
- person鈥檚 date of birth,
- person鈥檚 address;
- in the case of bankruptcy, date of commencement and, if applicable, discharge, and
- in the case of a deed of arrangement or composition under Part聽X, date upon which all of the relevant obligations have been met, if any.
A protocol describing the data-matching program has been developed in consultation with the Office of the Privacy Commissioner. Copies of the protocol will be available from:
Manager Policy and Technical Services
Public Information Program
ob体育
Both ob体育 and ITSA will adhere to the Privacy Commissioner鈥檚 Guidelines on Data-Matching in Commonwealth Administration that includes standards for data-matching to protect the privacy of individuals.
BPN024842 聽