Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.2A - SUPERVISION OF FINANCIAL MARKETS  

Division 7.2A.2 - Infringement notices  

REGULATION 7.2A.08   COMPLIANCE WITH INFRINGEMENT NOTICE  

7.2A.08(1)    
A recipient complies with an infringement notice if, during the compliance period, the recipient does all of the following:

(a) pays the penalty specified in the infringement notice under sub-subparagraph 7.2A.06 (g)(ii)(A) (if any);

(b) undertakes or institutes the remedial measures specified in the infringement notice under subparagraph 7.2A.06 (g)(iii) (if any);

(c) accepts the sanctions specified in the infringement notice under subparagraph 7.2A.06 (g)(iv) (if any);

(d) enters into an undertaking (including an undertaking to comply with the infringement notice) with the terms specified in the infringement notice under subparagraph 7.2A.06 (g)(v) (if any) .

7.2A.08(2)    
The compliance period for an infringement notice:

(a) starts on the day on which the infringement notice is given to the recipient; and

(b) ends:

(i) 27 days after the day on which the infringement notice is given to the recipient; or

(ii) on another day permitted by this regulation.

7.2A.08(3)    
If the recipient applies for a further period of time in which to comply with the infringement notice, and the application is granted, the compliance period ends at the end of the further period allowed.

7.2A.08(4)    
If the recipient applies for a further period of time in which to comply with the infringement notice, and the application is refused, the compliance period ends on the later of:

(a) 28 days after the day on which the infringement notice was given to the recipient; and

(b) 7 days after the notice of refusal is given to the recipient.

7.2A.08(5)    
If the recipient applies for the infringement notice to be withdrawn, and the application is refused, the compliance period ends 28 days after the notice of refusal is given to the recipient.