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:...

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 5 - Excluding persons from the securities industry

SECTION 840 EFFECT OF PREVIOUS ORDERS UNDER LAWS CORRESPONDING TO SECTION 838

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840(1) [Application of section]

This section applies where, immediately before the commencement of section 838, a person was, for the purposes of subsection 60(5) of the Securities Industry Act 1980 or a corresponding previous law of this or any other jurisdiction, disqualified, or deemed to be disqualified, either permanently or for a period, because of an order of an Australian court, from holding a licence under that Act or a corresponding previous law.

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840(2) [Effect of order under previous law]

As from that commencement, the order has effect for the purposes of this Law as if it were:

(a) in force under subsection 838(2);

(b) an order disqualifying the person, permanently or for that period, as the case may be, from holding a dealers licence or an investment advisers licence; and

(c) an order prohibiting the person, permanently or for that period, as the case may be, from doing an act as a representative of a dealer or of an investment adviser.

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840(3) [Additional effect of order]

The effect that the order has by force of subsection (2) is in addition to, and does not prejudice, its effect otherwise than by force of that subsection.

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