45Secretary may take disciplinary action

#### 45 Secretary may take disciplinary action 45 Secretary may take disciplinary action > > (1) The Secretary may take any of the following disciplinary actions against a person if the Secretary is satisfied that there are grounds for taking disciplinary action against the person— > > > > > (a) reprimand the person, > > > > > (b) direct the person to take specified action within a specified time in connection with the conduct of a business or the exercise of functions under a licence, > > > > > (c) suspend the person’s licence for a period not exceeding the unexpired term of the licence, > > > > > (d) impose a condition on the person’s licence, > > > > > (d1) require the person to pay to the Secretary the following within a specified time— > > > > > > > (i) for an individual—an amount up to $11,000, > > > > > > > (ii) for a body corporate—an amount up to $50,000, > > > > > (e) without limiting paragraph (b), require a licence holder to make a contribution to the Compensation Fund of a specified amount or indemnify the Fund to the extent specified by the Secretary in the event of a particular contingency arising from the licence holder’s activities, > > > > > (f) disqualify the person, either permanently or for a specified period, from being a licence holder or involved in the direction, management or conduct of a business for which a licence is required, > > > > > (g) cancel a licence. > > > (2) The disciplinary action is to be taken by order in writing given to the person against whom the action is being taken. The order must specify the date on which the order takes effect. > > > (3) The Secretary must cancel a licence if the Secretary disqualifies the licence holder from being the holder of a licence. > > > (4) The Secretary must not require a person to pay an amount under subsection (1)(d1)— > > > > > (a) in relation to grounds for disciplinary action mentioned in section 38(1)(c)–(f), 39(j) or 40, or > > > > > (b) if the person has been found guilty of an offence in relation to the grounds specified in the show cause notice given to the person. > > **s 45:** Am 2023 No 28, Sch 1\[30\] \[31\].