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.14   WITHDRAWAL OF NOTICE AFTER COMPLIANCE  

7.2A.14(1)   [ With agreement of recipient]  

ASIC may withdraw an infringement notice after the recipient has complied with the infringement notice only if the recipient agrees, in writing, to the withdrawal.

7.2A.14(2)   [ Refund of penalty]  

If an infringement notice is withdrawn after the penalty specified in it (if any) has been paid, the Commonwealth must refund the amount of the penalty to the person who paid it.

7.2A.14(3)   [ Requirements in notice no longer enforceable]  

If an infringement notice is withdrawn after the recipient has complied with a requirement specified in the infringement notice:


(a) to undertake or institute remedial measures; or


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


(c) to enter into an undertaking;

the remedial measures, sanctions or undertaking are taken to no longer be enforceable by ASIC.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.