Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 (108 of 2009)

Schedule 2   Trustee companies

Australian Securities and Investments Commission Act 2001

3J   After subsection 73(1)

Insert:

(1A) If paragraph 71(c) applies, ASIC may make one or more of the following:

(a) an order restraining a specified person from disposing of any interest in specified trust property;

(b) an order restraining a specified person from acquiring any interest in specified trust property;

(c) an order directing a body corporate not to pay, except in the course of winding up, a sum due from the body corporate in respect of specified trust property;

(d) an order directing a body corporate not to register the transfer or transmission of specified trust property.

Note: The heading to section 73 is altered by inserting “ and trust property ” after “ financial products ”.