Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person against whom a banning order is made cannot be granted an Australian financial services licence contrary to the banning order.
(2) A person against whom a banning order is made must not engage in conduct in breach of the banning order.
Fault - based offence
(3) A person commits an offence if the person contravenes subsection (2).
Civil liability
(4) A person contravenes this subsection if the person contravenes subsection (2).
Note: This subsection is a civil penalty provision (see section 1317E).