Commonwealth Consolidated Acts

FINANCIAL SECTOR (SHAREHOLDINGS) ACT 1998 - SECT 32

Restraining injunctions

  (1)   If a person has engaged, is engaging or is proposing to engage in any conduct in contravention of section   11, the Federal Court may, on the application of the Treasurer, grant an injunction:

  (a)   restraining the person from engaging in the conduct; and

  (b)   if, in the court's opinion, it is desirable to do so--requiring the person to do something.

  (2)   If:

  (a)   a person has engaged, is engaging or is proposing to engage in any conduct in contravention of section   11; and

  (b)   the contravention relates to the existence of an unacceptable shareholding situation in relation to a financial sector company;

the Federal Court may, on the application of the company, grant an injunction:

  (c)   restraining the person from engaging in the conduct; and

  (d)   if, in the court's opinion, it is desirable to do so--requiring the person to do something.

  (3)   If a person has engaged, is engaging or is proposing to engage in any conduct in contravention of a condition to which an approval under section   14 is subject, the Federal Court may, on the application of the Treasurer, grant an injunction:

  (a)   restraining the person from engaging in the conduct; and

  (b)   if, in the court's opinion, it is desirable to do so--requiring the person to do something.

Performance injunctions

  (4)   If:

  (a)   a person has refused or failed, or is refusing or failing, or is proposing to refuse or fail, to do an act or thing; and

  (b)   the refusal or failure was, is or would be a contravention of section   26 or 31;

the Federal Court may, on the application of the Treasurer, grant an injunction requiring the person to do that act or thing.

  (5)   If:

  (a)   a person has refused or failed, is refusing or failing, or is proposing to refuse or fail, to do an act or thing; and

  (b)   the refusal or failure was, is or would be a contravention of subsection   26(4) that relates to a requirement covered by paragraph   26(1)(c) to give information to a financial sector company;

the Federal Court may, on the application of the company, grant an injunction requiring the person to do that act or thing.

  (6)   If:

  (a)   a person has refused or failed, or is refusing or failing, or is proposing to refuse or fail, to do an act or thing; and

  (b)   the refusal or failure was, is or would be a contravention of a condition to which an approval under section   14 is subject;

the Federal Court may, on the application of the Treasurer, grant an injunction requiring the person to do that act or thing.