Section 853N — Corporations Act 2001 (Cth)

(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.

Related sections

• s 853K — When an individual is not a fit and proper person
• s 853L — When an individual contravenes a financial services law
• s 853M — When an individual has been a core officer of a corporation unable to pay its debts
• s 853P — Effect of financial market infrastructure banning orders
• s 853Q — Variation or cancellation of financial market infrastructure banning orders
• s 853R — Date of effect and publication of financial market infrastructure banning orders, variation or cancellation

Research how courts apply s 853N

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.