Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.7 - CONTROL, FINANCIAL SERVICES AND DISCLOSURE  

Division 4 - Financial services and markets  

SECTION 1241G  

1241G   IMMEDIATE SUSPENSIONS OR CANCELLATIONS OF LICENCES  

Treat subsection 915B(3) as also providing that ASIC may suspend or cancel an Australian financial services licence held by a body corporate, by giving written notice to the body, if:

(a)    the body is the corporate director of a CCIV; and

(b)    the CCIV or the members of the CCIV have suffered, or are likely to suffer, loss or damage because the corporate director or the CCIV has breached this Act.