Document ID: chunk:federal_register_of_legislation:C2012A00067:clause:1_9
Version: federal_register_of_legislation:C2012A00067
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 3778–4916

9  After subsection 920A(1)
Insert:
 (1A) In considering whether, at a particular time, there is reason to believe that a person is not of good fame or character, ASIC must (subject to Part VIIC of the Crimes Act 1914) have regard to:
 (a) any conviction of the person, within 10 years before that time, for an offence that involves dishonesty and is punishable by imprisonment for at least 3 months; and
 (b) whether the person has held an Australian financial services licence that was suspended or cancelled; and
 (c) whether a banning order or disqualification order under Division 8 has previously been made against the person; and
 (d) any other matter ASIC considers relevant.
Note: Part VIIC of the Crimes Act 1914 includes provisions that, in certain circumstances, relieve persons from the requirement to disclose spent convictions and require persons aware of such convictions to disregard them.
 (1B) To avoid doubt, a person contravenes a financial services law if a person fails to comply with a duty imposed under that law, even if the provision imposing the duty is not an offence provision or a civil penalty provision.