Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If an unacceptable control situation exists in relation to a controlled Australian financial body and a person, any of the following courts may make such orders as the court considers appropriate for the purpose of ensuring that the unacceptable control situation ceases to exist:
(a) the Federal Court;
(b) the Federal Circuit and Family Court of Australia (Division 2);
(c) a court of a State or Territory that has jurisdiction in relation to the matter.
(2) However, the court may only make orders under this section on application by:
(a) ASIC; or
(b) the body; or
(c) a person who has any voting power in the body.
(3) Without limiting subsection (1), the court's orders may include:
(a) an order directing the disposal of shares; or
(b) an order restraining the exercise of any rights attached to shares; or
(c) an order prohibiting or deferring the payment of any sums due to a person in respect of shares held by the person; or
(d) an order that any exercise of rights attached to shares be disregarded; or
(e) an order directing any person to do or refrain from doing a specified act, for the purpose of securing compliance with any other order made under this section; or
(f) an order containing such ancillary or consequential provisions as the court thinks just.
(4) Before making an order under this section, the court may direct that notice of the application:
(a) be given to such persons as the court thinks fit; or
(b) be published in such manner as the court thinks fit.
(a) rescind, vary or discharge an order made by the court under this section; or
(b) suspend the operation of such an order.