Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 824

Power to revoke, without a hearing, licence held by natural person

ASIC may, by written order, revoke a licence held by a natural person if the person:

becomes an insolvent under administration; or

is convicted of serious fraud; or

becomes incapable, through mental or physical incapacity, of managing his or her affairs; or

asks ASIC to revoke the licence.

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