Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.8
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OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 2
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Dealing with clients
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money
Subdivision C
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Powers of Court
SECTION 983C
983C
DUTY OF PERSON TO WHOM ORDER DIRECTED TO MAKE FULL DISCLOSURE
If an order made under section 983A is directed to a financial institution, the institution must: (a) disclose to ASIC every account kept at the institution in the name of the person to whom the order relates, and any account that the institution reasonably suspects is held or kept at the institution for the benefit of that person; and (b) permit ASIC to make a copy of, or to take an extract from, any account of the person to whom the order relates or any of the institution ' s books relating to that person.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH Note: Division 2 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Subdivision C is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 983C is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
If an order made under section 983A is directed to a financial institution, the institution must: (a) disclose to ASIC every account kept at the institution in the name of the person to whom the order relates, and any account that the institution reasonably suspects is held or kept at the institution for the benefit of that person; and (b) permit ASIC to make a copy of, or to take an extract from, any account of the person to whom the order relates or any of the institution ' s books relating to that person.
Note: Failure to comply with this section is an offence (see subsection 1311(1) ).
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