Automatic termination of ARITA Membership – Mr David Iannuzzi

In accordance with clause 7.1(b)(ii) of the ARITA Constitution, Mr Iannuzzi’s ARITA membership was automatically terminated effective from 7 November 2019.

Termination followed the consent orders issued by the Federal Court of Australia in the matter of Commissioner of Taxation v Iannuzzi (No 2) [2019] FCA 1818 that Mr Iannuzzi’s registration as a Registered Liquidator be cancelled and that he be restrained for a period of 10 years from applying to be:

  • a registered liquidator under the Corporations Act 2001; and.
  • registered as a trustee in bankruptcy and from accepting appointment as liquidator, provisional liquidator, voluntary administrator, administrator of a deed of company arrangement, or as a receiver or other controller of property of any corporation, as that term is defined in s 57A of the Corporations Act 2001.

Prior to the decision by the Court, ARITA’s Professional Conduct Committee, in accordance with the delegated authority of the ARITA Board, suspended the membership of Mr David Iannuzzi in accordance with clauses 8.3(b)(ii) and 8.7(b) of the ARITA Constitution pending receipt of a reasonable response to ARITA’s inquiries regarding his referral to a Disciplinary Committee under Schedule 2 of the Corporations Act 2001 by ASIC.

The suspension of Mr Iannuzzi’s membership was subject to any other provision of the ARITA Constitution.