Section 920B — Corporations Act 2001 (Cth)

(1) A banning order made against a person may specify that the person is prohibited from doing one or more of the following:

(a) providing any financial services;

(b) providing specified financial services in specified circumstances or capacities;

(c) controlling, whether alone or in concert with one or more other entities, an entity that carries on a financial services business;

(d) performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity);

(e) performing specified functions involved in the carrying on of a financial services business.

(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 920A(1)(k) 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.

(3) A banning order may include a provision allowing the person 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 917E — Responsibility extends to loss or damage suffered by client
• s 917F — Effect of Division
• s 920A — ASIC’s power to make a banning order
• s 920C — Effect of banning orders
• s 920D — Variation or cancellation of banning orders
• s 920E — Date of effect and publication of banning order, variation or cancellation

Research how courts apply s 920B

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