Orders by ASIC relating to credit contracts, mortgages, guarantees or consumer leases
300 Orders by ASIC relating to credit contracts, mortgages, guarantees or consumer leases
ASIC may make one or more of the following:
an order restraining a specified person from assigning any interest in a credit contact, mortgage, guarantee or consumer lease;
an order restraining a specified person from acquiring any interest in a credit contact, mortgage, guarantee or consumer lease;
an order restraining the exercise of rights under a credit contract, mortgage, guarantee or consumer lease;
an order directing a:
credit provider under a credit contract; or
mortgagee under a mortgage; or
beneficiary of a guarantee under a guarantee; or
lessor under a consumer lease;
in relation to which an order under this section is in force to give written notice of that order to any person whom the credit provider, mortgagee, beneficiary or lessor knows to be entitled to exercise a right in relation to the credit contract, mortgage, guarantee or consumer lease.
An offence under subsection 301(4) relating to subsection (1) of this section is an offence of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
An order made under subsection (1) is not a legislative instrument.
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