CTHRepealedAct
Securities Industry Act 1980
60LHolder of authority may be required to return it
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##### 60L Holder of authority may be required to return it
(1) Where a person holds a proper authority from a licensee but is neither employed by, nor authorised to act for or by arrangement with, the licensee, the licensee may, by writing given to the person, require the person to give the proper authority to the licensee within a specified period of not less than 2 business days.
(2) Where a person holds an invalid authority from another person, the other person may, by writing given to the first‑mentioned person, require the first‑mentioned person to give the invalid authority to the other person within a specified period of not less than 2 business days.
(3) A person shall not, without reasonable excuse, refuse or fail to comply with a requirement made of the person in accordance with subsection (1) or (2).
(4) In this section:
> licensee includes a recognised licensee.