THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.3 - PARTICIPANTS IN THE SECURITIES INDUSTRY

Division 5 - Excluding persons from the securities industry

SECTION 838   DISQUALIFICATION BY THE COURT  

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838(1)  [Commission may seek Court orders]  

Where the Commission:

(a)  revokes under section 824, 825 or 825A or subsection 826(1) a licence held by a person; or

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(b)  makes under section 830 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.

 View history note

838(2)  [Court orders]  

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 dealers licence;
(ii) an investment advisers licence; or
(iii) a dealers licence or an investment 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 dealer;
(ii) a representative of an investment adviser; or
(iii) a representative of a dealer or of an investment adviser;

whichever the order specifies;

(c)  such other order as it thinks fit;

or may refuse the application.

838(3)  [Court may revoke or vary order]  

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

 

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