62DPower to suspend licence instead of revoking it

##### 62D Power to suspend licence instead of revoking it (1) Subject to section 62P, where: (a) section 62A or 62B empowers the Commission to revoke a licence otherwise than because the licensee has asked for the revocation; or (b) the Commission is empowered by virtue of paragraph 62(1)(c), (d), (f), (g), (h), (j) or (k) to revoke a licence; the Commission may, if it considers it desirable to do so, instead: (c) by written order, suspend the licence for a specified period; or (d) by written order, prohibit the licensee, either permanently or for a specified period, from doing specified acts, being acts that section 43 or 45 would prohibit the licensee from doing if he, she or it did not hold the licence. (2) The Commission may at any time, by written order, vary or revoke an order in force under this section. (3) For the purposes of sections 43, 45, 60A and 60B, a licensee or recognised licensee shall be taken not to hold the licence or recognised licence at any time during a period for which the licence or recognised licence is suspended. (4) Where an order in force under this section prohibits a licensee as mentioned in paragraph (1)(d): (a) the licensee shall not contravene the order; and (b) in relation to the doing by a person, as a representative of the licensee, of an act specified in the order, sections 60A and 60B apply, or apply during the period specified in the order, as the case requires, as if the licensee did not hold the licence. Penalty: $2,500 or imprisonment for 6 months, or both. (5) Subsection (4) applies in relation to a person who holds a licence within the meaning of a corresponding law of a participating State or participating Territory and so applies as if: (a) a reference in that subsection to a licensee were a reference to the person; and (b) a reference in that subsection to this section or to paragraph (1)(d) were a reference to a provision of a law of that State or Territory that corresponds with this section or that paragraph, as the case may be. (6) The effect that subsection (4) has by virtue of subsection (5) is additional to, and does not prejudice, the effect subsection (4) otherwise has. (7) A reference in this Act (other than this section) to the Commission suspending a licence includes a reference to the Commission making under paragraph (1)(d) an order relating to the licence. (8) A reference in this Act to the Commission suspending a recognised licence includes a reference to the Commission making under a provision of a law of a participating State or participating Territory that corresponds with paragraph (1)(d) an order relating to the recognised licence.