THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 5 - Excluding persons from the securities industry

SECTION 829   POWER TO MAKE BANNING ORDER AGAINST UNLICENSED PERSON  

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829    Subject to section 837, the Commission may make a banning order against a natural person (other than a licensee) if:

(a)  he or she becomes an insolvent under administration;

(b)  he or she is convicted of serious fraud;

(c)  he or she becomes incapable, through mental or physical incapacity, of managing his or her affairs;

(d)  he or she contravenes a securities law;

(e)  the Commission has reason to believe that he or she is not of good fame and character;

(f)  the Commission has reason to believe that he or she has not performed efficiently, honestly and fairly the duties of:

(i) a representative of a dealer; or
(ii) a representative of an investment adviser; or

(g)  the Commission has reason to believe that he or she will not perform efficiently, honestly and fairly the duties of:

(i) a representative of a dealer; or
(ii) a representative of an investment adviser.

 

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