Clause 22

by deleting paragraph (d) of subsection (1) and substituting the following paragraphs:“(ca)where the relevant person is or was a representative of an exempt person but is not exempted under section 99B(2) from section 99B(1), the Authority has reason to believe that circumstances exist under which, if the relevant person were an appointed, provisional or temporary representative, there would exist a ground on which the Authority may revoke under section 99M the relevant person’s status as an appointed, provisional or temporary representative;

where the relevant person is or was a representative of an exempt person, or a representative of a holder of a capital markets services licence, and is exempted under section 99B(2) from section 99B(1), the Authority has reason to believe that circumstances exist under which, if the person were an appointed representative, there would exist a ground on which the Authority may revoke under section 99M the relevant person’s status as an appointed representative;

the Authority has reason to believe that the person is contravening, is likely to contravene or has contravened —

any provision in this Act;

any condition or restriction imposed by the Authority under this Act; or

any written direction issued by the Authority under this Act;”;

by deleting the words “section 99(1)(f), (g) or (h)” in subsection (2)(c) and substituting the words “section 99(1)”;

by inserting, immediately after paragraph (d) of subsection (2), the following paragraph:“(da)a representative exempted under section 99B(2) from section 99B(1), or a person who was previously such a representative;”; and

by inserting, immediately after subsection (6), the following subsections:“(7) The Authority shall keep, in such form as it thinks fit, records on persons against whom prohibition orders are made under this section.(8) The Authority may publish the records referred to in subsection (7), or any part of them, in such manner as the Authority considers appropriate.”.