85‑5 Commissioner may give directions in85‑5 Commissioner may give directions in certain circumstances

#### 85‑5 Commissioner may give directions in certain circumstances (1) The Commissioner may give a registered entity a written direction of a kind specified in subsection 85‑10(1) only if: (a) the registered entity is a federally regulated entity and the Commissioner reasonably believes that: (i) the registered entity has contravened a provision of this Act; or (ii) it is more likely than not that the registered entity will contravene a provision of this Act; or (b) the registered entity is a federally regulated entity and the Commissioner reasonably believes that: (i) the registered entity has not complied with a governance standard; or (ii) it is more likely than not that the registered entity will not comply with a governance standard; or (c) the Commissioner reasonably believes that: (i) the registered entity has not complied with an external conduct standard; or (ii) it is more likely than not that the registered entity will not comply with an external conduct standard. (2) In deciding whether to give a direction, and deciding the content of the direction, the Commissioner must take account of the matters mentioned in subsection 35‑10(2). (3) The direction must: (a) specify the ground or grounds mentioned in subsection (1) on the basis of which the direction is given; and (b) specify the time by which, or the period during which, the registered entity must comply with the direction.