Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1101b:p3
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1101B (pt 3/4)
Character Range: 806858–809494

that are specified in the order; and
 (g) an order appointing a receiver of property (see subsection (9)) of a financial services licensee; and
 (h) an order declaring a contract relating to financial products or financial services to be void or voidable; and
 (i) an order directing a person to do or refrain from doing a specified act, if that order is for the purpose of securing compliance with any other order under this section; and
 (j) any ancillary order considered to be just and reasonable in consequence of the making of an order under any of the preceding provisions of this subsection.

Interim orders

 (5) Before considering an application to the Court under subsection (1), the Court may make an interim order of the kind applied for to apply pending the determination of the application, if in the opinion of the Court it is desirable to do so.

 (6) However, if ASIC, a market licensee or a CS facility licensee applies for an order under subsection (1), the Court must not require the applicant, or any other person, to give any undertakings as to damages as a condition of making an interim order under subsection (5).

Power to give notice of applications

 (7) Before making an order under subsection (1), the Court may do either or both of the following:
 (a) direct that notice of the application be given to such persons as it thinks fit;
 (b) direct that notice of the application be published in such manner as it thinks fit.

Powers of receivers appointed under Court orders

 (8) A person appointed by order of the Court under subsection (1) as a receiver of the property (see subsection (12)) of a financial services licensee:
 (a) may require the financial services licensee to:
 (i) deliver to the person any property of which the person has been appointed receiver; or
 (ii) give to the person all information concerning that property that may reasonably be required; and
 (b) may acquire and take possession of any property of which the person has been appointed receiver; and
 (c) may deal with any property that the person has acquired, or of which the person has taken possession, in any way in which the financial services licensee might lawfully have dealt with the property; and
 (d) has such other powers in respect of the property as the Court specifies in the order.

Duty to comply with order

 (10) A person must not, without reasonable excuse, contravene:
 (a) an order under this section; or
 (b) a requirement imposed under paragraph (8)(a) or (8)(d) by a receiver appointed by order of the Court under subsection (1).

Note: Failure to comply with this subsection is an offence (see