Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3A - CS SERVICES  

Division 2 - Regulation of CS services: CS services rules  

Subdivision B - Compliance with CS services rules  

SECTION 828E   ALTERNATIVES TO CIVIL PROCEEDINGS  

828E(1)    
The regulations may provide for a person who is alleged to have contravened section 828C to do one or more of the following as an alternative to civil proceedings:

(a)    pay a penalty to the Commonwealth;

(b)    undertake or institute remedial measures (including education programs);

(c)    accept sanctions other than the payment of a penalty to the Commonwealth;

(d)    enter into a legally enforceable undertaking.

828E(2)    
The penalty payable under regulations made under paragraph (1)(a) in relation to an alleged contravention of a CS services rule must not exceed:

(a)    for an individual - 3,000 penalty units; and

(b)    for a body corporate - 15,000 penalty units.

828E(3)    
Without limiting regulations that may be made for the purpose of paragraph (1)(d) , those regulations may provide for one or more of the following kinds of undertakings:

(a)    an undertaking to take specified action within a specified period;

(b)    an undertaking to refrain from taking specified action;

(c)    an undertaking to pay a specified amount within a specified period to the Commonwealth or to some other specified person.