Document ID: chunk:federal_register_of_legislation:C2025C00134:section:264:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 264 (pt 2/2)
Character Range: 906207–907880

the occurrence of an event, referred to in the notice.
Note: For example, the Regulator may direct an investment manager not to make any withdrawals from a bank account without prohibiting the making of deposits to the credit of the account.
 (4) The Regulator may, by written notice given to a person (other than a trustee or an investment manager) who has possession, custody or control of an asset or assets of the entity, direct the person, subject to such conditions (if any) as are stated in the notice, not to dispose of, or otherwise deal, or deal in a particular way, in:
 (a) if the person has possession, custody or control of a single asset—that asset; or
 (b) if the person has possession, custody or control of 2 or more assets:
 (i) any of those assets; or
 (ii) any of those assets that are included in a specified class of assets; or
 (iii) such of those assets as are identified in the notice;
until the notice is revoked or for a period, or until the occurrence of an event, referred to in the notice.
Note: For example, the Regulator may direct a person not to make any withdrawals from a bank account without prohibiting the making of deposits to the credit of the account.
 (4A) To avoid any doubt, the power of the Regulator under subsection (3), (3A) or (4) to direct a person not to deal in a particular way in assets of an entity includes power to direct a person not to remove from Australia assets of the entity that are in Australia.

Effect of direction on validity of transactions
 (5) Subsection (3), (3A) or (4) does not affect the validity of a transaction entered into by a person in contravention of a notice given under that subsection.