Document ID: chunk:federal_register_of_legislation:C2020A00003:clause:4_36
Version: federal_register_of_legislation:C2020A00003
Segment Type: clause
Provision Reference: sch 4 cl 36
Character Range: 96805–97999

36  Subsections 81(1) and (2)
Repeal the subsections, substitute:
 (1) A banning order made against a person may specify that the person is prohibited from doing one or more of the following:
 (a) engaging in any credit activities;
 (b) engaging in specified credit activities in specified circumstances or capacities;
 (c) controlling, whether alone or in concert with one or more other entities (as defined by section 64A of the Corporations Act 2001), another person who engages in credit activities;
 (d) performing any function involved in the engaging in of credit activities (including as an officer (within the meaning of the Corporations Act 2001), manager, employee, contractor or in some other capacity);
 (e) performing specified functions involved in the engaging in of credit activities.
 (2) The banning order may specify that a particular prohibition specified in the order applies against the person:
 (a) if the sole ground for the banning order is because paragraph 80(1)(fc) applies—for a specified period of up to 5 years; or
 (b) otherwise—either permanently or for a specified period.
Note: This subsection applies separately to each prohibition specified in the order.