the Court may make such order or orders as it thinks fit, including, but
without limiting the generality of the foregoing, one or more of the following
orders:
- (c)
- in the case of persistent or continuing contraventions of this Chapter, or
of any other law relating to trading or dealing in securities, of the
conditions or restrictions of a licence, of the business rules or
listing rules of a securities exchange, or of the SCH business rulesan
order restraining a person from carrying on a business, or doing an act or
classes of acts, in relation to securities;
- (ca)
- in the case of a contravention by a person of the business rules or
listing rules of a securities exchange:
- (i)
- an order giving directions concerning compliance with or enforcement of
those rules to:
(A) the person; and
(B) if the person is a body corporatethe directors of
the body corporate; and
- (ii)
- if the contravention
relates to the disclosure or provision of
informationan order of either or both of the
following kinds:
(A) an order requiring the person, or a person involved in the contravention,
to disclose to the public or to specified persons, in accordance with the
order, specified information which the person to whom the order is directed
possesses or to which that person has access;
(B) an order requiring the person, or a person involved in
the contravention, to publish advertisements in
accordance with the order at that person's expense;
- (d)
- an order restraining a person from acquiring, disposing
of or otherwise dealing with any securities that are
specified in the order;
- (e)
- an order appointing a receiver of the property of a dealer or of property
that is held by a dealer on behalf of another person, whether in trust or
otherwise;
- (f)
- an order declaring a contract relating to securities to be void or
voidable;
- (g)
- for the purpose of securing compliance with any other order under this
section, an order directing a person to do or refrain from doing a specified
act;
- (h)
- any ancillary order considered to be just and reasonable in consequence of
the making of an order under any of the preceding provisions of this
subsection.
(1A) For the purposes of paragraph (1)(bb), if a body corporate
contravenes provisions of the business rules or listing rules of a securities
exchange, a person who holds securities of the body corporate that are quoted
on a stock market of the securities exchange is taken to be a person aggrieved
by the contravention.
(1B) Subsection (1A) does not limit the circumstances in which a person
may be aggrieved by a contravention for the purposes of
paragraph (1)(bb).
(2) Where an application is made to the Court for an order under
subsection (1), the Court may, if in the opinion of the Court it is
desirable to do so, before considering the application, make an interim order,
being an order of the kind applied for that is expressed to apply pending the
determination of the application.
(3) Where ASIC or the Exchange applies to the Court for an order under
subsection (1), the Court must not require the applicant or any other
person, as a condition of making an interim order under subsection (2),
to give any undertakings as to damages.
(4) The Court must not make an order under subsection (1) if it is
satisfied that the order would unfairly prejudice any person.
(5) Before making an order under subsection (1), the Court may direct
that notice of the application be given to such persons as it thinks fit or
direct that notice of the application be published in such manner as it thinks
fit, or both.
(6) A person appointed by order of the Court under subsection (1) as a
receiver of the property of a dealer:
- (a)
- may require the dealer to deliver
to the person any property of which the person has been appointed receiver or
to give to the person all information concerning that property that may
reasonably be required; and
- (b)
- may acquire and take possession of any property of which the person has
been appointed receiver; and
- (c)
- may deal with any property that the person has acquired or of which the
person has taken possession in any way in which the dealer might lawfully have
dealt with the property; and
- (d)
- has such other powers in respect of the property as the Court specifies in
the order.
(7) In paragraph (1)(e) and subsection (6):
"property", in relation to a dealer, includes money, securities and documents
of title to securities or other property entrusted to or received on behalf of
any other person by the dealer or another person in the course of or in
connection with a securities business carried on by the dealer.
(8) A person must not, without reasonable excuse, contravene:
- (a)
- an order
under this section; or
- (b)
- a requirement of a receiver appointed by order of the Court under
subsection (1).
(9) The Court may rescind or vary an order made by it under this section or
suspend the operation of such an order.
(10) In this section:
"securities" includes marketable securities and marketable rights within the
meaning of Division 3 of Part 7.10.