sec.37Direction to dispose of interests and convertible securities

### sec.37 Direction to dispose of interests and convertible securities The Governor in Council may, on the Minister’s recommendation, direct the person to dispose, within the required period, of all of the person’s interests and convertible securities in each relevant entity. For subsection (1) , the required period is as soon as reasonably practicable and no later than— the day that is 2 months after the day the direction is given to the person; or if the Governor in Council agrees in writing to a later day—the later day. For subsection (1) , the Governor in Council may direct the person to take stated action, or all action necessary, to dispose of the interests and convertible securities. The direction must be given by written notice stating— details of the grounds for the Minister’s recommendation; and that the person is directed to dispose of all of the person’s interests and convertible securities in each relevant entity; and whether the person is directed to take stated action or all action necessary to dispose of the interests and convertible securities; and the day mentioned in subsection (2) (a) by which the person must comply with the direction, unless the Governor in Council agrees in writing to a later day. The person must comply with the direction. Maximum penalty—200 penalty units. (sec.37-ssec.1) The Governor in Council may, on the Minister’s recommendation, direct the person to dispose, within the required period, of all of the person’s interests and convertible securities in each relevant entity. (sec.37-ssec.2) For subsection (1) , the required period is as soon as reasonably practicable and no later than— the day that is 2 months after the day the direction is given to the person; or if the Governor in Council agrees in writing to a later day—the later day. (sec.37-ssec.3) For subsection (1) , the Governor in Council may direct the person to take stated action, or all action necessary, to dispose of the interests and convertible securities. (sec.37-ssec.4) The direction must be given by written notice stating— details of the grounds for the Minister’s recommendation; and that the person is directed to dispose of all of the person’s interests and convertible securities in each relevant entity; and whether the person is directed to take stated action or all action necessary to dispose of the interests and convertible securities; and the day mentioned in subsection (2) (a) by which the person must comply with the direction, unless the Governor in Council agrees in writing to a later day. (sec.37-ssec.5) The person must comply with the direction. Maximum penalty—200 penalty units. - (a) the day that is 2 months after the day the direction is given to the person; or - (b) if the Governor in Council agrees in writing to a later day—the later day. - (a) details of the grounds for the Minister’s recommendation; and - (b) that the person is directed to dispose of all of the person’s interests and convertible securities in each relevant entity; and - (c) whether the person is directed to take stated action or all action necessary to dispose of the interests and convertible securities; and - (d) the day mentioned in subsection (2) (a) by which the person must comply with the direction, unless the Governor in Council agrees in writing to a later day.