Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1133

1133. (1) The Minister may cause to be served on a body corporate a written
notice requiring the body to show cause, at a hearing before a specified
person, why the body's approval as a futures association should not be
suspended or cancelled on specified grounds.

(2) A notice under subsection (1) shall specify, and give reasonable notice
of, the time and place at which the hearing is to occur, but the specified
person may, with the body's consent, fix a different time, a different place,
or both, for the hearing.

(3) Where a notice is served under subsection (1), the specified person shall,
after giving the body an opportunity to be heard at the hearing, submit to the
Minister a report about the hearing and a recommendation about the matters to
which the notice related.

(4) After considering a report and recommendation under subsection (3), the
Minister may:

   (a)  decide to take no further action in relation to the matter; or

   (b)  by writing, suspend for a specified period, or cancel, the body's
        approval as a futures association.

(5) A body corporate shall be deemed not to be a futures association at any
time during a period for which the body's approval as a futures association is
suspended.

(6) A body corporate's approval as a futures association shall not be
suspended or cancelled except under this section.