Financial Sector Reform (Hayne Royal Commission Response - Stronger Regulators (2019 Measures)) Act 2020 (3 of 2020)
Schedule 4 Banning orders
Part 2 Consumer credit amendments
National Consumer Credit Protection Act 2009
26 Section 79
Repeal the section, substitute:
79 Guide to this Part
This Part is about banning or disqualifying persons from:
(a) engaging in credit activities; or
(b) controlling others who engage in credit activities; or
(c) performing some or any functions involved in others engaging in credit activities.
The bans are orders made by ASIC under Division 2.
The disqualifications are orders made by the court under Division 3.
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