Singapore legislation

Section 123ZZE

of Securities and Futures Act 2001

Section 123ZZE

Variation or revocation of prohibition orders

Amended by4/20174/20174/20174/2017

(1)

The Authority may vary or revoke a prohibition order, by giving written notice to the person against whom the order was made, if the Authority is satisfied that it is appropriate to do so because of a change in any of the circumstances based on which the Authority made the order.

Amended by4/2017

(2)

The Authority may vary or revoke a prohibition order under subsection (1) —

(a)

on its own initiative; or

(b)

if the person against whom the order was made lodges with the Authority an application for the Authority to do so, accompanied by such documents and fee as may be prescribed by regulations made under section 123ZZA.

Amended by4/2017

(3)

The Authority must not vary a prohibition order made against a person under subsection (2)(a) without giving the person an opportunity to be heard.

Amended by4/2017

(4)

Any person who is aggrieved by the decision of the Authority to vary a prohibition order made against the person under subsection (2)(a) may, within 30 days of the decision, appeal in writing to the Minister.

Amended by4/2017