57   Certain persons not to be operators

(1)  A person to whom this section applies must not:

(a)  be an operator of a retirement village, or

(b)  be involved in the promotion or sale of residence rights in a retirement village, or

(c)  be in any way (whether directly or indirectly) concerned, or take part, in the management or control of a retirement village.

Maximum penalty: 100 penalty units.

(2)  This section applies to the following persons:

(a)  a person who is insolvent under administration,

(b)  a person who is a director of an externally-administered body corporate,

(c)  a person who was a director of a company that has been wound up (otherwise than voluntarily),

(d)  a person who has been convicted (in New South Wales or elsewhere) of an offence involving:

(i)  physical violence to another person, or

(ii)  fraud or dishonesty, being an offence punishable on conviction by imprisonment for a period of not less than 3 months.

(3)  However, this section applies:

(a)  to a person referred to in subsection (2) (c)—only for the period of 5 years immediately following the winding-up, and

(b)  to a person referred to in subsection (2) (d)—only for the period of 5 years following the conviction (or, if the person was sentenced to imprisonment, within the period of 5 years following the person’s release).

(4)  In this section, externally-administered body corporate and insolvent under administration have the same meanings as they have in the Corporations Act 2001 of the Commonwealth.