Document ID: chunk:federal_register_of_legislation:C2022C00218:clause:1_105
Version: federal_register_of_legislation:C2022C00218
Segment Type: clause
Provision Reference: sch 1 cl 105
Character Range: 127379–128442

105  Subsections 80(5) and (6)
Repeal the subsections, substitute:
 (5) ASIC may make a banning order against a person without giving the person the opportunities mentioned in subsection (4) if:
 (a) either:
 (i) ASIC has not delegated its power to make the banning order to a Financial Services and Credit Panel; or
 (ii) ASIC exercises its power to make the banning order despite such a delegation; and
 (b) subsection (6) or (6A) applies.
Note: See section 34AB of the Acts Interpretation Act 1901 (effect of delegation).
 (6) This subsection applies if:
 (a) ASIC's grounds for making a banning order against a person include that ASIC has suspended or cancelled a licence of the person (see paragraph (1)(a)); and
 (b) the suspension or cancellation took place without a hearing under section 54.
 (6A) This subsection applies if:
 (a) ASIC's grounds for making a banning order against a person include that the person has been convicted of fraud (see paragraph (1)(c)); and
 (b) the person has been convicted of serious fraud.

Tax Agent Services Act 2009