The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 was passed in February of 2020. It essentially grants new powers to ASIC so that, with effect from 18 February 2021:
• If ASIC is not notified of a person’s resignation as a Director within 28 days, then the person’s resignation as a Director will be recorded as effective on the day that written notice is lodged with ASIC. ASIC will essentially override the actual date of the resignation with the lodgement date of the Form 484 or Form 370.
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