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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES    View history reference

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

Subdivision A - Banning orders    View history reference

SECTION 920B  WHAT IS A BANNING ORDER?  

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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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