Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 920B

What a banning order prohibits

             (1)  A banning order made against a person may specify that the person is prohibited from doing one or more of the following:

                     (a)  providing any financial services;

                     (b)  providing specified financial services in specified circumstances or capacities;

                     (c)  controlling, whether alone or in concert with one or more other entities, an entity that carries on a financial services business;

                     (d)  performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity);

                     (e)  performing specified functions involved in the carrying on of a financial services business.

             (2)  The banning order may specify that a particular prohibition specified in the order applies against the person:

                     (a)  if the sole ground for the banning order is because paragraph 920A(1)(k) applies--for a specified period of up to 5 years; or

                     (b)  otherwise--either permanently or for a specified period.

Note:          This subsection applies separately to each prohibition specified in the order.

             (3)  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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