Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1194

Nature of banning order

(1) Where this Division empowers ASIC to make a banning order against a person, ASIC may, by written order, prohibit the person:

in any case—permanently; or

except where ASIC is empowered by virtue of paragraph 1193(e) to make the order—for a specified period;

from doing an act as:

a representative of a futures broker; or

a representative of a futures adviser; or

a representative of a futures broker or a futures adviser;

whichever the order specifies.

(2) ASIC must not vary or revoke a banning order except under section 1195, 1196 or 1197.

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