Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1189A

Power to revoke, without a hearing, licence held by natural person

ASIC may, by written order, revoke a licence held by a natural person if the person:

(a)
becomes an insolvent under administration; or

(b)
is convicted of serious fraud; or

(c)
becomes incapable, through mental or physical incapacity, of managing his or her affairs; or

(d)
asks ASIC to revoke the licence.



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