Companies Act 2014 section 854

Regulations for the purposes of sections 850 to 853

Section 854 requires the Minister to make regulations that establish the formal documents and procedures needed when a person voluntarily accepts a disqualification or restriction undertaking under sections 850 to 853.

• The Minister must create regulations prescribing official forms known as a "disqualification acceptance document" (for disqualification undertakings) and a "restriction acceptance document" (for restriction undertakings), which individuals use to signify their voluntary acceptance.
• Once a person returns the completed acceptance document to the Corporate Enforcement Authority within the required notice period, the Authority must authenticate it by affixing its official seal.
• The regulations may also set out specific procedures the Authority must follow when delivering notices and conducting any subsequent communications with the person or their authorised agent, and may extend a privilege equivalent to legal professional privilege to those post-notice communications.
• This regulation-making power is in addition to the general power under section 12(1) to prescribe matters referred to in sections 850 to 853.