Corporations Act 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.4B - CIVIL CONSEQUENCES OF CONTRAVENING CIVIL PENALTY PROVISIONS  

Division 2 - Procedural and other matters relating to orders by the Court  

SECTION 1317J   WHO MAY APPLY FOR A DECLARATION OR ORDER  
Application by ASIC

1317J(1)    
ASIC may apply for a declaration of contravention, a pecuniary penalty order or a compensation order.

1317J(1A)    

However, ASIC must not make an application under subsection (1) in relation to an alleged contravention of a restricted civil penalty provision unless:

(a)    a Financial Services and Credit Panel has given ASIC a notice under subsection 921Q(1) in relation to the alleged contravention; or

(b)    both of the following apply:

(i) a Financial Services and Credit Panel has given a person an infringement notice for the alleged contravention;

(ii) the person has not paid the amount that is payable under the infringement notice within the payment period for the infringement notice.

Application by corporation

1317J(2)    
The corporation, the responsible entity for the registered scheme or the operator of the notified foreign passport fund may apply for a compensation order.

Note: An application for a compensation order may be made whether or not a declaration of contravention has been made under section 1317E .

1317J(3)    
The corporation, the responsible entity for the registered scheme or the operator of the notified foreign passport fund may intervene in an application for a declaration of contravention or a pecuniary penalty order in relation to the corporation, scheme or fund. The corporation, responsible entity or operator is entitled to be heard on all matters other than whether the declaration or order should be made.

Compensation order relating to financial services civil penalty provision - any other person who suffers damage may apply

1317J(3A)    

Any other person who suffers damage in relation to a contravention, or alleged contravention, of a financial services civil penalty provision may apply for a compensation order under section 1317HA .

Note: An application for a compensation order may be made whether or not a declaration of contravention has been made under section 1317E .

Compensation order relating to the Passport Rules for this jurisdiction - any other person who suffers damage may apply

1317J(3AA)    
Any other person who suffers damage in relation to a contravention, or alleged contravention, of subsection 1211B(1) or (2) may apply for a compensation order under section 1317HE .

Note: An application for a compensation order may be made whether or not a declaration of contravention has been made under section 1317E .

1317J(3B)    

Subsections (2) and (3) do not apply in relation to a contravention of:

(a)    section 901E (complying with derivative transaction rules); or

(b)    section 903D (complying with derivative trade repository rules).

No one else may apply

1317J(4)    
No person may apply for a declaration of contravention, a pecuniary penalty order or a compensation order unless permitted by this section.

1317J(5)    
Subsection (4) does not exclude the operation of the Director of Public Prosecutions Act 1983 .