Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 1241G

Immediate suspensions or cancellations of licences

                   Treat subsection 915B(3) as also providing that ASIC may suspend or cancel an Australian financial services licence held by a body corporate, by giving written notice to the body, if:

                     (a)  the body is the corporate director of a CCIV; and

                     (b)  the CCIV or the members of the CCIV have suffered, or are likely to suffer, loss or damage because the corporate director or the CCIV has breached this Act.



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