Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A Financial Services and Credit Panel may only hold a hearing as required or permitted by this section.
(2) A Financial Services and Credit Panel must hold a hearing if:
(a) the panel proposes to make:
(i) a decision to make an order, as an ASIC delegate, against a person under subsection 920A(1) of the Corporations Act (ASIC's power to make a banning order); or
(ii) a decision to make an order, as an ASIC delegate, against a person under subsection 80(1) of the National Consumer Credit Protection Act 2009 (ASIC's power to make a banning order); or
(b) a relevant provider requests that the panel hold a hearing in response to a proposed action notice given to the relevant provider.
(3) A Financial Services and Credit Panel may hold a hearing if ASIC makes a request of the panel under:
(a) paragraph 171E(3)(a) of this Act (variation, withdrawal and enforcement of undertakings given to Financial Services and Credit Panels); or
(b) subsection 921N(2) or paragraph 921N(4)(a) of the Corporations Act (variation or revocation of instruments made in relation to relevant providers).