Section 123ZZF
Date and effect of prohibition orders
of Securities and Futures Act 2001
ActIn forceProvision 697 of 701
Section 123ZZF
Amended by4/20174/2017
(1)
A prohibition order, or any variation or revocation of a prohibition order, takes effect on the date specified in the order by the Authority, being a date not earlier than the date on which the order, or variation or revocation, is made.
Amended by4/2017
(2)
A prohibition order does not operate so as to —
(a)
avoid or affect any agreement, transaction or arrangement entered into by the person against whom the order is made, whether the agreement, transaction or arrangement was entered into before, on or after the issue of the prohibition order; or
(b)
affect any right, obligation or liability arising under any such agreement, transaction or arrangement.
Amended by4/2017