Document ID: chunk:federal_register_of_legislation:C2025C00182:section:157
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 157
Character Range: 499506–500644

157  When hearings are to be held
 (1) A Financial Services and Credit Panel may only hold a hearing as required or permitted by this section.
 (2) A Financial Services and Credit Panel must hold a hearing if:
 (a) the panel proposes to make:
 (i) a decision to make an order, as an ASIC delegate, against a person under subsection 920A(1) of the Corporations Act (ASIC's power to make a banning order); or
 (ii) a decision to make an order, as an ASIC delegate, against a person under subsection 80(1) of the National Consumer Credit Protection Act 2009 (ASIC's power to make a banning order); or
 (b) a relevant provider requests that the panel hold a hearing in response to a proposed action notice given to the relevant provider.
 (3) A Financial Services and Credit Panel may hold a hearing if ASIC makes a request of the panel under:
 (a) paragraph 171E(3)(a) of this Act (variation, withdrawal and enforcement of undertakings given to Financial Services and Credit Panels); or
 (b) subsection 921N(2) or paragraph 921N(4)(a) of the Corporations Act (variation or revocation of instruments made in relation to relevant providers).