National Consumer Credit Protection Act 2009

CHAPTER 2 - LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES  

PART 2-4 - BANNING OR DISQUALIFICATION OF PERSONS FROM ENGAGING IN CREDIT ACTIVITIES  

Division 2 - Banning orders  

SECTION 83   VARIATION OR CANCELLATION OF BANNING ORDERS  

83(1)   [ ASIC may vary or cancel]  

ASIC may vary or cancel a banning order if ASIC is satisfied that it is appropriate to do so because of a change in any of the circumstances based on which ASIC made the order.

83(2)   [ ASIC may act on own initiative or on application]  

ASIC may do so:

(a) on its own initiative; or

(b) if the person against whom the order was made lodges with ASIC an application for the variation or cancellation.

83(3)   [ Approved form]  

The application must be in the approved form.

83(4)   [ When ASIC proposes not to vary or cancel under para (2)(b)]  

If ASIC proposes not to vary or cancel a banning order in accordance with an application given by a person under paragraph (2)(b), ASIC must give the person an opportunity:

(a) to appear, or be represented, at a hearing before ASIC that takes place in private; and

(b) to make submissions to ASIC on the matter.

83(5)   [ Written notice must be given]  

ASIC must give written notice of the variation or cancellation of a banning order to the person against whom the order was made.