Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:2_853n
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 2 cl 853N
Character Range: 297348–298331

853N  What a financial market infrastructure banning order prohibits
 (1) An FMI banning order made against an individual may specify that the individual is prohibited from doing one or more of the following:
 (a) controlling, whether alone or in concert with one or more other entities, an FMI licensee;
 (b) performing any functions of a core officer of an FMI licensee;
 (c) performing specified functions of a core officer of an FMI licensee.
 (2) An FMI banning order may specify that a particular prohibition specified in the order applies against the individual:
 (a) for a specified period; or
 (b) permanently.
Note: This subsection applies separately to each prohibition specified in the order.
 (3) A FMI banning order may include a provision allowing the individual against whom it was made, subject to any specified conditions:
 (a) to do specified acts; or
 (b) to do specified acts in specified circumstances;
that the order would otherwise prohibit them from doing.