Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1101b:p1
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1101B (pt 1/4)
Character Range: 801956–804618

1101B  Power of Court to make certain orders

Court's power to make orders in relation to certain contraventions

 (1) The Court may make such order, or orders, as it thinks fit if:
 (a) on the application of ASIC, it appears to the Court that a person:
 (i) has contravened a provision of this Chapter, or any other law relating to dealing in financial products or providing financial services; or
 (ii) has contravened a condition of an Australian market licence, Australian CS facility licence or Australian financial services licence; or
 (iii) has contravened a provision of the operating rules, or the compensation rules (if any), of a licensed market or of the operating rules of a licensed CS facility; or
 (iv) has contravened a condition imposed under section 918D on a declaration of a declared professional body; or
 (v) has contravened a condition on an exemption from the requirement to hold an Australian market licence or an Australian CS facility licence; or
 (vi) is about to do an act with respect to dealing in financial products or providing a financial service that, if done, would be such a contravention; or
 (b) on the application of a market licensee, it appears to the Court that a person has contravened the operating rules, or the compensation rules (if any), of a licensed market operated by the licensee; or
 (c) on the application of a CS facility licensee, it appears to the Court that a person has contravened a provision of the operating rules of a licensed CS facility operated by the licensee; or
 (d) on the application of a person aggrieved by an alleged contravention by another person of a provision of the operating rules, or the compensation rules (if any), of a licensed market, it appears to the Court that:
 (i) the other person did contravene the provision or condition; and
 (ii) the applicant is aggrieved by the contravention.
However, the Court can only make such an order if the Court is satisfied that the order would not unfairly prejudice any person.

Note: For examples of orders the Court could make, see subsection (4).

 (2) For the purposes of paragraph (1)(d), if a body corporate contravenes a provision of the operating rules of a licensed market, a person who holds financial products of the body corporate that are able to be traded on the licensed market is taken to be a person aggrieved by the contravention.

 (3) Subsection (2) does not limit the circumstances in which a person may be aggrieved by a contravention for the purposes of paragraph (1)(d).

Examples of orders the Court may make

 (4) Without limiting subsection (1), some examples of orders the Court may make under subsection