Securities Services Act, 2004 (Act No. 36 of 2004)Chapter IX : General ProvisionsPowers of registrar and court96. Power of court to declare person disqualified |
| (1) | If a court— |
| (a) | convicts an authorised user or participant, or an officer or employee of those entities, of an offence under this Act or of an offence of which any dishonest act or omission is an element; or |
| (b) | finds, in proceedings to which a person referred to in paragraph (a) is a party or in which his or her conduct is called into question, that he or she has been guilty of reckless or dishonest conduct, the court may (in addition, in a case referred to in paragraph (a), to any sentence it may impose) declare the person concerned to be disqualified, for an indefinite period or for a period specified by the court, from carrying on business or being employed in a capacity of trust. |
| (2) | The court may, on good cause shown, vary or revoke a declaration made under subsection (1). |
| (3) | The registrar of the court that has made a declaration under subsection (1) or varied or revoked a declaration under subsection (2), must as soon as possible notify the registrar, and the self-regulatory organisation concerned, thereof. |
| (4) | No declaration made under subsection (1) affects any power of a self-regulatory organisation to take disciplinary action in terms of its rules against the person concerned. |