Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 920B

What a banning order prohibits

  (1)   A banning order made against a person may specify that the person is prohibited from doing one or more of the following:

  (a)   providing any financial services;

  (b)   providing specified financial services in specified circumstances or capacities;

  (c)   controlling, whether alone or in concert with one or more other entities, an entity that carries on a financial services business;

  (d)   performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity);

  (e)   performing specified functions involved in the carrying on of a financial services business.

  (2)   The banning order may specify that a particular prohibition specified in the order applies against the person:

  (a)   if the sole ground for the banning order is because paragraph   920A(1)(k) applies--for a specified period of up to 5 years; or

  (b)   otherwise--either permanently or for a specified period.

Note:   This subsection applies separately to each prohibition specified in the order.

  (3)   A banning order may include a provision allowing the person against whom it was made, subject to any specified conditions:

  (a)   to do specified acts; or

  (b)   to do specified acts in specified circumstances;

that the order would otherwise prohibit them from doing.


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