CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 8 - Banning or disqualification of persons from providing financial services  

Subdivision A - Banning orders  

SECTION 920B   WHAT IS A BANNING ORDER ?  

920B(1)   [ ``banning order'']  

A banning order is a written order that prohibits a person from providing any financial services or specified financial services in specified circumstances or capacities.

920B(2)   [ Effect]  

The order may prohibit the person against whom it is made from providing a financial service:


(a) permanently; or


(b) for a specified period, unless ASIC has reason to believe that the person is not of good fame or character.

920B(3)   [ Order may allow prohibited acts]  

A banning order may include a provision allowing the person against whom it was made, subject to any specified conditions:


(a) to do specified acts; or


(b) to do specified acts in specified circumstances;

that the order would otherwise prohibit them from doing.


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