Variation or cancellation of banning orders
83 Variation or cancellation of banning orders
ASIC may vary or cancel a banning order if ASIC is satisfied that it is appropriate to do so because of a change in any of the circumstances based on which ASIC made the order.
ASIC may do so:
on its own initiative; or
if the person against whom the order was made lodges with ASIC an application for the variation or cancellation.
The application must be in the approved form.
If ASIC proposes not to vary or cancel a banning order in accordance with an application given by a person under paragraph (2)(b), ASIC must give the person an opportunity:
to appear, or be represented, at a hearing before ASIC that takes place in private; and
to make submissions to ASIC on the matter.
ASIC must give written notice of the variation or cancellation of a banning order to the person against whom the order was made.
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