Section 36A: Scope of powers under this Part

36A. Scope of powers under this Part.—(1) The powers conferred on the Commission under this Part may be exercised in relation to any regulated person if it appears to the Commission that — (a) the exercise of the powers is desirable for the protection of investors or is in the interest of the financial services market; or (b) a regulated person is not a fit and proper person; or (c) a regulated person has contravened or failed to comply with any provision of or any requirement under this Act or any administered legislation or, in purported compliance with any such provision or requirement, has furnished the Commission with information that is false, inaccurate or misleading. (2) In exercising the powers conferred by this section or section 36B, the Commission may be entitled to rely on the findings of an inspection conducted under section 28A or the content of any report of investigating officer received under section 29. (3) The powers conferred on the Commission by this Part may be exercised in relation to a person whose registration or license has been suspended or revoked or has expired whether or not the suspension or revocation is the subject of appeal.

Effective date: 1997-01-01

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