31Determination of disciplinary measures by Tribunal

31 Determination of disciplinary measures by Tribunal S. 31(1) substituted by No. 74/1996 s. 17(1), amended by No. 52/1998 s. 160(1)(5). (1) After conducting an inquiry, if the Tribunal is satisfied that there are grounds for taking action under this section against a licensee, the Tribunal may do one or more of the following— (a) reprimand the licensee; S. 31(1)(b) amended by No. 52/1998 s. 160(2). (b) order the licensee to pay into the Fund a penalty of up to $5000; S. 31(1)(c) amended by No. 52/1998 s. 160(5). (c) require the licensee to comply within, or for, a specified time with a requirement specified by the Tribunal; (d) suspend the licensee's licence for a specified period not exceeding 1 year; S. 31(1)(e) substituted by No. 52/1998 s. 160(3). (e) require the licensee to enter into an undertaking to perform, or not to perform, certain tasks to be specified in the undertaking; (f) impose a condition or restriction on the licensee's licence; S. 31(1)(g) amended by No. 52/1998 s. 160(4). (g) if the ground for taking action under this section involved one or more people losing money, order the licensee to pay compensation to one or more of those people, but not so that the total amount the licensee must pay under this paragraph is more than $5000. S. 31(2) substituted by No. 74/1996 s. 17(1), amended by No. 52/1998 s. 160(5). (2) As an alternative to taking action under one or more of subsections (1)(a), (b), (c), (d) and (f), the Tribunal may cancel the licensee's licence and disqualify the licensee (and any partner or director of the licensee) from holding a licence either permanently or for a specified period. S. 31(2A) inserted by No. 74/1996 s. 17(1), amended by No. 52/1998 s. 160(5)(6). (2A) If the Tribunal orders the payment of an amount under subsection (1)(b) or (g)— (a) it may order that the amount be paid by a specified date; and (b) if the amount is not paid by that date, it may suspend the licence until the amount is paid and set a final payment date; and (c) if the amount has not been paid by that final payment date, it may cancel the licence; and (d) it may extend any period of time it sets under paragraph (a) or (b) at any time. S. 31(2B) inserted by No. 74/1996 s. 17(1), amended by No. 52/1998 s. 160(5). (2B) The Tribunal may suspend or cancel a licence under subsection (2A) without giving the licensee a chance to be heard. S. 31(2C) inserted by No. 12/2015 s. 13. (2C) A reference to a licensee in this section includes a reference to any person who was a licensee at the time any ground referred to in section 30(2) existed or was alleged to exist, even if the person is not a licensee at the time the action under this section is taken. S. 31(3) amended by No. 52/1998 s. 160(5). (3) If the Tribunal cancels or suspends a licence, the cancellation or suspension takes effect on and from such date as is determined by the Authority. S. 31(4) amended by Nos 74/1996 s. 17(2), 52/1998 s. 160(5). (4) If under subsection (1)(c), the Tribunal requires a licensee to comply with a requirement specified by it, the licensee must comply with the requirement within, or for, the time specified by the Tribunal under that paragraph. S. 31A inserted by No. 74/1996 s. 18.