Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p122
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 122/212)
Character Range: 322392–325272

After paragraph 1191 (1) (d):

  Insert:

      "(ea) the licensee is a natural person and the Commission has reason to believe that he or she is not of good fame and character;".

Paragraphs 1191 (1) (e) and (f):

Before "the Commission" (first occurring) insert "the licensee is a body corporate and".

Paragraph 1191 (1) (g):

  Omit the paragraph, substitute:

   "(g) the licensee is a body corporate and:

          (i) a licence held by a director, secretary or executive officer of the body is suspended or revoked; or

          (ii) an order is made under section 1194 against such a director, secretary or executive officer;".

Subsection 1191 (2):

  Before "(j)" insert "(ea) or".

Paragraph 1192 (1) (a):

  Before "1190" insert "1189a or".

Paragraph 1192 (1) (d):

  Omit "it", substitute "the licensee".

Before section 1193:

  Insert:

Power to make banning order where licence revoked or suspended

  "1192a. Subject to section 1200, where the Commission:

  (a) revokes under section 1189a; or

  (b) revokes because of paragraph 1191 (1) (a), (b), (c), (d), (h) or (j); or

  (c) revokes because of paragraph 1191 (1) (ea); or

  (d) suspends because of paragraph 1192 (1) (a); or

  (e) suspends because of paragraph 1192 (1) (b);

SCHEDULE 1—continued

a licence held by a natural person, it may also make a banning order against the person.".

Section 1193:

  After "natural person" insert "(other than a licensee)".

Paragraph 1198 (2) (a):

  Before "1190" insert "1189a,".

After section 1199:

  Insert:

Banned person ineligible for licence

"1199a. The Commission must not grant a futures brokers licence or a futures advisers licence to a person if a banning order prohibits the person (except as permitted by the order) from doing an act as a representative of a futures broker, or of a futures adviser, as the case may be.".

Paragraph 1200 (1) (a):

  Before "1145" insert "1144a (2) (d), (e) or (f) or".

Paragraph 1200 (1) (d):

  Before "1190" insert "1189a or".

Paragraph 1200 (1) (e):

  Before "1193" insert "1192a (a) or (d) or".

Paragraph 1201 (1) (a):

  Before "1190" insert "1189a,".

Subsection 1203 (1):

     (a) Omit "a law corresponding to that subsection", substitute "a previous corresponding law of this or any other jurisdiction".

  (b) Before "law" (last occurring) insert "previous".

Subsection 1205 (2):

  Omit the subsection, substitute:

"(2) Where the Commission considers that, having regard to conduct that a person has engaged in, is engaging in, or proposes to engage in, it is in the public interest to do so, it may, by written order given to the person, prohibit the person from publishing or broadcasting statements about:

  (a) futures contracts; or

  (b) businesses carried on, or proposed to be carried on, by persons

SCHEDULE 1—continued

     and involving dealing in futures contracts on behalf