Commonwealth Consolidated Acts

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 73

  (1)   If paragraph   71(b) applies, ASIC may make one or more of the following:

  (a)   an order restraining a specified person from disposing of any interest in specified financial products;

  (b)   an order restraining a specified person from acquiring any interest in specified financial products;

  (c)   an order restraining the exercise of voting or other rights attached to specified financial products;

  (d)   an order directing the holder of financial products in respect of which an order under this section is in force to give written notice of that order to any person whom the holder knows to be entitled to exercise a right to vote attached to the financial products;

  (e)   an order directing a body corporate not to pay, except in the course of winding up, a sum due from the body in respect of specified financial products;

  (f)   an order directing a body corporate not to register the transfer or transmission of specified financial products;

  (g)   an order directing a body corporate not to issue to a person who holds shares in the body shares that the body proposed to issue to the person:

  (i)   because the person holds such shares; or

  (ii)   pursuant to an offer or invitation made or issued to the person because the person holds such shares;

  (h)   an order requiring a specified person to dispose of specified derivatives, or to dispose of specified derivatives in a specified manner.

  (1A)   If paragraph   71(c) applies, ASIC may make one or more of the following:

  (a)   an order restraining a specified person from disposing of any interest in specified trust property;

  (b)   an order restraining a specified person from acquiring any interest in specified trust property;

  (c)   an order directing a body corporate not to pay, except in the course of winding up, a sum due from the body corporate in respect of specified trust property;

  (d)   an order directing a body corporate not to register the transfer or transmission of specified trust property.

  (2)   An order under subsection   (1) or (1A) does not prejudice or affect a right of an operator of a financial market or clearing and settlement facility:

  (a)   to cause or enter into a transaction that causes a derivative to be closed out; or

  (b)   to cause to be registered in a person's name, or to register in a person's name, a derivative that was previously registered in another person's name.

  (3)   An offence under subsection   75(5) relating to subsection   (1) or (1A) of this section is an offence of strict liability.

Note:   For strict liability , see section   6.1 of the Criminal Code .