CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision D - The SEGC  

SECTION 890F   ENFORCEMENT OF THE SEGC'S OPERATING RULES  

890F(1)   [ Enforcement of operating rules]  

If a person who is under an obligation to comply with or enforce any of the SEGC's operating rules fails to meet that obligation, an application to the Court may be made by:

(a) ASIC; or

(b) the SEGC; or

(c) a member of the SEGC; or

(d) a person aggrieved by the failure.

890F(2)   [ Court orders]  

After giving an opportunity to be heard to the applicant and the person against whom the order is sought, the Court may make an order giving directions to:

(a) the person against whom the order is sought; or

(b) if that person is a body corporate - the directors of the body corporate;

about compliance with, or enforcement of, the operating rules.