THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

SECTION 1201 DISQUALIFICATION BY THE COURT

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1201(1) [Application to Court]

Where the Commission:

(a) revokes under section 1189A, 1190 or 1191 a licence held by a person; or

(b) makes under section 1194 against a person an order that is to operate otherwise than only for a specified period;

the Commission may apply to the Court for an order or orders under this section in relation to the person.

1201(2) [Powers of Court]

On an application under subsection (1), the Court may make one or more of the following:

(a) an order disqualifying the person, permanently or for a specified period, from holding:

(i) a futures brokers licence;

(ii) a futures advisers licence; or

(iii) a futures brokers licence or a futures advisers licence;

whichever the order specifies;

(b) an order prohibiting the person, permanently or for a specified period, from doing an act as:

(i) a representative of a futures broker;

(ii) a representative of a futures adviser; or

(iii) a representative of a futures broker or of a futures adviser;

whichever the order specifies;

(c) such other order as it thinks fit;

or may refuse the application.

1201(3) [Variation or revocation]

The Court may revoke or vary an order in force under subsection (2).