SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 15 - STANDARDS FOR TRUSTEES, CUSTODIANS AND INVESTMENT MANAGERS OF SUPERANNUATION ENTITIES  

Division 3 - Disqualified persons  

Subdivision B - Disqualification by the Federal Court of Australia  

SECTION 126J   COURT POWER TO REVOKE OR VARY A DISQUALIFICATION ETC.  

126J(1)   [ Application may be made]  

A disqualified person, or the Regulator, may apply to the Federal Court of Australia for:


(a) if an individual is a disqualified person only because he or she was disqualified under section 126H - a variation or a revocation of the order made under that section; or


(b) otherwise - an order that the person is not a disqualified person.

126J(2)   [ Effect of revocation]  

If the Court revokes an order under paragraph (1)(a) or makes an order under paragraph (1)(b), then, despite section 120 , the person is not a disqualified person .

126J(3)   [ Notice]  

At least 21 days before commencing the proceedings, written notice of the application must be lodged:


(a) if the disqualified person makes the application - by the person with the Regulator; or


(b) if the Regulator makes the application - by the Regulator with the disqualified person.

126J(4)   [ Exceptions and conditions]  

An order under paragraph (1)(b) may be expressed to be subject to exceptions and conditions determined by the Court.




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