Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 921A

Disqualification by the Court

             (1)  ASIC may apply to the Court for an order or orders under this section in relation to a person if ASIC:

                     (a)  cancels an Australian financial services licence held by the person; or

                     (b)  makes a banning order against the person that is to operate permanently.

             (2)  The Court may make:

                     (a)  an order disqualifying the person, permanently or for a specified period, from providing any financial services, or specified financial services, in specified circumstances or capacities; or

                     (b)  any other order the Court considers appropriate.

             (3)  The Court may revoke or vary an order made under subsection (2).

             (4)  A person against whom such an order is made cannot be granted an Australian financial services licence contrary to the order.

             (5)  If the Court makes or varies an order under this section in relation to a person who is a participant in a licensed market or a licensed CS facility, ASIC must give the operator of the market or facility written notice of the making of the order or the variation.



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