(1) After conducting an inquiry, if the Tribunal is S. 31(1) substituted by satisfied that there are grounds for taking action No. 74/1996 s. 17(1), under this section against a licensee, the Tribunal amended by may do one or more of the following— No. 52/1998 s. 160(1)(5). (a) reprimand the licensee; (b) order the licensee to pay into the Fund a S. 31(1)(b) amended by penalty of up to $5000; No. 52/1998 s. 160(2). S. 31(1)(c) (c) require the licensee to comply within, or for, amended by a specified time with a requirement specified No. 52/1998 s. 160(5). by the Tribunal; (d) suspend the licensee's licence for a specified period not exceeding 1 year; S. 31(1)(e) (e) require the licensee to enter into an substituted by undertaking to perform, or not to perform, No. 52/1998 s. 160(3). certain tasks to be specified in the undertaking; (f) impose a condition or restriction on the licensee's licence; S. 31(1)(g) (g) if the ground for taking action under this amended by section involved one or more people losing No. 52/1998 money, order the licensee to pay s. 160(4). compensation to one or more of those people, but not so that the total amount the licensee must pay under this paragraph is more than $5000. (2) As an alternative to taking action under one or S. 31(2) substituted by more of subsections (1)(a), (b), (c), (d) and (f), the No. 74/1996 Tribunal may cancel the licensee's licence and s. 17(1), amended by disqualify the licensee (and any partner or director No. 52/1998 of the licensee) from holding a licence either s. 160(5). permanently or for a specified period.
S. 31(1) substituted by No. 74/1996 s. 17(1), amended by No. 52/1998 s. 160(1)(5). (1) After conducting an inquiry, if the Tribunal is satisfied that there are grounds for taking action under this section against a licensee, the Tribunal may do one or more of the following— (a) reprimand the licensee; S. 31(1)(b) amended by No. 52/1998 s. 160(2). (b) order the licensee to pay into the Fund a penalty of up to $5000; S. 31(1)(c) amended by No. 52/1998 s. 160(5). (c) require the licensee to comply within, or for, a specified time with a requirement specified by the Tribunal; (d) suspend the licensee's licence for a specified period not exceeding 1 year; S. 31(1)(e) substituted by No. 52/1998 s. 160(3). (e) require the licensee to enter into an undertaking to perform, or not to perform, certain tasks to be specified in the undertaking; (f) impose a condition or restriction on the licensee's licence; S. 31(1)(g) amended by No. 52/1998 s. 160(4). (g) if the ground for taking action under this section involved one or more people losing money, order the licensee to pay compensation to one or more of those people, but not so that the total amount the licensee must pay under this paragraph is more than $5000. S. 31(2) substituted by No. 74/1996 s. 17(1), amended by No. 52/1998 s. 160(5). (2) As an alternative to taking action under one or more of subsections (1)(a), (b), (c), (d) and (f), the Tribunal may cancel the licensee's licence and disqualify the licensee (and any partner or director of the licensee) from holding a licence either permanently or for a specified period.
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