(1) Where

(a) on the application of the Commission, it appears to a court that a person has committed an offence under this Act, or has contravened the conditions or restrictions of a licence or the rules or listing rules of a stock exchange or is about to do an act with respect to dealing in securities that, if done, would be an offence or a contravention, or

(b) on the application of a securities exchange, it appears to the court that a person has contravened the rules of that securities exchange, the court may, without prejudice to any other orders make an order as specified in subsection (2).

(2) For die purposes of subsection (1), the Court may make an order

(a) in the case of persistent or continuing breaches of this Act, or of the conditions or restriction of a licence, or of the rules of a securities exchange restraining the person from carrying on a business for which the person has been licensed, or fi-om posing as carrying on that business or so acting;

(b) restraining a person from acquiring, disposing of or other-wise dealing with die securities that are specified in the order;

(c) appointing a receiver of the property of a broker-dealer or of property that is held by a broker-dealer for or on behalf of another person whether on trust or otherwise;

(d) declaring a contract relating to securities to be void or voidable;

(e) for the purposes of securing compliance with any other order under subsection (1), directing a person to do or refrain from doing a specified act; or

(f) ancillary to any of the orders specified in paragraph (a) to

(e) considered necessary.

(3) The Court may, before making an order under subsection (1) direct ±at notice of the application be given to a person who the court considers fit or direct that notice of the application be published in the manner that die court considers fit, or both.

(4) A person appointed by order of the Court under subsection (1) as a receiver of die property of a broker-dealer may

(a) require the broker-dealer to deliver to the receiver, property of which the latter has been appointed receiver or to give to the receiver die information concerning that property that may reasonably be required;

(b) acquire and take possession of property of which that person has been appointed receiver;

(c) deal with property that person has acquired or taken possession of in a manner in which the broker-dealer might lawfully have dealt with the property; and

(d) exercise any other powers in respect of the property specified in die order.

(5) In subsections (1), (2) and (4), “property” in relation to a broker-dealer, includes moneys, securities and documents of tide to securities or other property entrusted to or received on behalf of any other person by the broker-dealer or any other person in the course of or in connection with a business of dealing in securities carried on by the broker-dealer.

(6) A person who, without reasonable excuse, contravenes or foils to comply with

(a) an order under subsection (1), or

(b) a requirement of a receiver appointed by order of die court under subsection (1), commits an offence and is liable on summary conviction to a fine of not less than one hundred and fifty penalty units and not more than five hundred penalty units or to a term of imprisonment of not less than one year and not more than three years or to both.

(7) Subsection (6) does not affect the powers of the Court to punish for contempt of court.

(8) The Court may on an application by the Commission compel a person to give a statement or testimony under oath in investigations and other matters relating to securities.

(9) The Court may rescind, vary or discharge an order made under this section or suspend the operation of an order.