CORPORATIONS ACT 2001 - SECT 853F Obligations on disqualified individuals

CORPORATIONS ACT 2001 - SECT 853F

  (1)   A disqualified individual must not become involved in a market licensee, a CS facility licensee, a derivative trade repository licensee or a benchmark administrator licensee.

Note:   Failure to comply with this subsection is an offence (see subsection   1311(1)).

  (2)   A disqualified individual who is involved in a market licensee, a CS facility licensee, a derivative trade repository licensee or a benchmark administrator licensee must take all reasonable steps to ensure that he or she ceases to be involved in the licensee.

Note:   Failure to comply with this subsection is an offence (see subsection   1311(1)).

  (3)   A person contravenes this subsection if the person contravenes subsection   (2).

Note:   This subsection is a civil penalty provision (see section   1317E).