The Commissioner's guidance and education (see section   110 - 10) will assist registered entities to comply with and understand their obligations under this Act. However, where enforcement action is required, the Commissioner's range of enforcement powers includes the power to suspend or remove a responsible entity of a registered entity, so that the Commissioner can provide a proportionate and effective regulatory response.

The Commissioner may suspend or remove a responsible entity of a registered entity if:

  (a)   the registered entity is a federally regulated entity and the Commissioner reasonably believes that the registered entity has contravened a provision of this Act, or that it is more likely than not that the registered entity will contravene a provision of this Act; or

  (b)   the registered entity is a federally regulated entity and the Commissioner reasonably believes that the registered entity has not complied with a governance standard, or that it is more likely than not that the registered entity will not comply with a governance standard; or

  (c)   the Commissioner reasonably believes that the registered entity has not complied with an external conduct standard, or that it is more likely than not that the registered entity will not comply with an external conduct standard.

The Commissioner may only do so if the suspension or removal is necessary to address the contravention or non - compliance, and may only do so after considering a range of policy matters.

A decision of the Commissioner to suspend or remove a responsible entity is reviewable in accordance with Part   7 - 2.

The Commissioner may appoint acting responsible entities to replace suspended or removed responsible entities, so that the registered entity may continue to function.

Subdivision   100 - D deals with the property of a registered entity that is a trust, if a trustee of the trust is suspended or removed.