THE CORPORATIONS LAW

CHAPTER 8 - THE FUTURES INDUSTRY

PART 8.3 - PARTICIPANTS IN THE FUTURES INDUSTRY

Division 5 - Excluding persons from the futures industry

SECTION 1201   DISQUALIFICATION BY THE COURT  

1201(1)  [Application to Court]  

Where the Commission:

(a)  revokes under section 1189A, 1190 or 1191 a licence held by a person; or

(b)  makes under section 1194 against a person an order that is to operate otherwise than only for a specified period;

the Commission may apply to the Court for an order or orders under this section in relation to the person.

1201(2)  [Powers of Court]  

On an application under subsection (1), the Court may make one or more of the following:

(a)  an order disqualifying the person, permanently or for a specified period, from holding:

(i) a futures brokers licence;

(ii) a futures advisers licence; or

(iii) a futures brokers licence or a futures advisers licence;

whichever the order specifies;

(b)  an order prohibiting the person, permanently or for a specified period, from doing an act as:

(i) a representative of a futures broker;

(ii) a representative of a futures adviser; or

(iii) a representative of a futures broker or of a futures adviser;

whichever the order specifies;

(c)  such other order as it thinks fit;

or may refuse the application.

1201(3)  [Variation or revocation]  

The Court may revoke or vary an order in force under subsection (2).