Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p121
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 121/212)
Character Range: 319739–322630

in it to a court were a reference to a court of an external Territory or of a country outside Australia and the external Territories; and

   (c) paragraphs (6) (d) and (e) were omitted.".

Subsection 1182 (1):

  Omit "that is a corporation".

Subsection 1184 (1):

  Omit "an Australian court", substitute "a court".

Paragraph 1184 (1) (a):

   (a) Before "a person" insert "in this jurisdiction or elsewhere,".

   (b) Omit "eligible futures".

Paragraph 1185 (1) (a):

After "representative" (third occurring) insert ", in this jurisdiction or elsewhere,".

Subparagraphs 1185 (1) (a) (i) and (ii):

  Omit "eligible futures".

Paragraph 1185 (1) (b):

  After "act" insert ", in this jurisdiction or elsewhere,".

Subsection 1185 (2):

  After "then" insert ", for the purposes of a proceeding in a court".

SCHEDULE 1—continued

After subsection 1185 (3):

  Insert:

  "(3a) Subsection (3) does not apply unless:

     (a) the conduct was engaged in, the proposed conduct would have been engaged in, or the representation was made, in this jurisdiction; or

     (b) the act referred to in paragraph (1) (b) was done, or would have been done, as the case may be, in this jurisdiction; or

     (c) some or all of the loss or damage was suffered in this jurisdiction.".

Paragraph 1185 (4) (b):

  Omit "an Australian court", substitute "a court".

Subsection 1186 (1):

  (a) Omit "an Australian court", substitute "a court".

  (b) Before "while" insert ", in this jurisdiction or elsewhere,".

Subsection 1186 (2):

  Omit "an Australian court", substitute "a court".

Section 1189:

  Repeal the section.

Section 1190:

  Repeal the section, substitute:

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

"1189a. The Commission 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 the Commission to revoke the licence.

Power to revoke, without a hearing, licence held by body corporate

"1190. The Commission may, by written order, revoke a licence held by a body corporate if:

  (a) the body ceases to carry on business; or

     (b) the body becomes an externally-administered body corporate; or

  (c) the body asks the Commission to revoke the licence; or

SCHEDULE 1—continued

     (d) a director, secretary or executive officer of the body contravenes this Law because:

       (i) he or she does not hold a licence; or

       (ii) a licence he or she holds is suspended.".

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"