14Power of Court to make certain orders

##### 14 Power of Court to make certain orders (1) Where: (a) on the application of the Commission, it appears to the Court that a person has contravened this Act, or any other law in force in the Territory relating to trading or dealing in securities, or has contravened the conditions or restrictions of a licence or the business rules or listing rules of a securities exchange or is about to do an act with respect to trading or dealing in securities that, if done, would be such a contravention; or (b) on the application of a securities exchange, it appears to the Court that a person has contravened the business rules or listing rules of the securities exchange; the Court may make such order or orders as it thinks fit, including, but without limiting the generality of the foregoing, one or more of the following orders, namely: (c) in the case of persistent or continuing breaches of this Act, or of any other law in force in the Territory relating to trading or dealing in securities, of the conditions or restrictions of a licence, or of the business rules or listing rules of a securities exchange—an order restraining a person from carrying on a business of dealing in securities, acting as an investment adviser or as a dealer’s representative or investment representative, or from holding himself out as so carrying on business or so acting; (d) an order restraining a person from acquiring, disposing of or otherwise dealing with any securities that are specified in the order; (e) an order appointing a receiver of the property of a dealer or of property that is held by a dealer for or on behalf of another person, whether on trust or otherwise; (f) an order declaring a contract relating to securities to be void or voidable; (g) for the purpose of securing compliance with any other order under this section, an order directing a person to do or refrain from doing a specified act; (h) any ancillary order deemed to be desirable in consequence of the making of an order under any of the preceding provisions of this subsection. (1A) Where an application is made to the Court for an order under subsection (1), the Court may, if in the opinion of the Court it is desirable to do so, before considering the application, grant an interim order, being an order of the kind applied for that is expressed to have effect pending the determination of the application. (1B) Where the Commission makes an application to the Court for the making of an order under subsection (1), the Court shall not require the Commission or any other person, as a condition of granting an interim order under subsection (1A), to give any undertakings as to damages. (2) The Court shall not make an order under subsection (1) if it is satisfied that the order would unfairly prejudice any person. (3) The Court may, before making an order under subsection (1), direct that notice of the application be given to such persons as it thinks fit or direct that notice of the application be published in such manner as it thinks fit, or both. (4) A person appointed by order of the Court under subsection (1) as a receiver of the property of a dealer: (a) may require the dealer to deliver to the receiver any property of which he has been appointed receiver or to give to the receiver all information concerning that property that may reasonably be required; (b) may acquire and take possession of any property of which he has been appointed receiver; (c) may deal with any property that he has acquired or of which he has taken possession in any manner in which the dealer might lawfully have dealt with the property; and (d) has such other powers in respect of the property as the Court specifies in the order. (5) In paragraph (1)(e) and subsection (4), property, in relation to a dealer, includes money, securities and documents of title to securities or other property entrusted to or received on behalf of any other person by the dealer or another person in the course of or in connection with a business of dealing in securities carried on by the dealer. (6) A person shall not, without reasonable excuse, contravene or fail to comply with: (a) an order under this section that is applicable to him; or (b) a requirement of a receiver appointed by order of the Court under subsection (1). Penalty: $10,000 or imprisonment for 2 years, or both. (8) The Court may rescind, vary or discharge an order made by it under this section or suspend the operation of such an order.