Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5A - REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES  

Division 2 - Regulation of derivative transactions: derivative transaction rules  

Subdivision 2.3 - Infringement notices  

REGULATION 7.5A.106  

7.5A.106   CONTENTS OF INFRINGEMENT NOTICE  

An infringement notice:

(a) must state the date on which it is given; and

(b) must be identified by a unique code; and

(c) must state the name and address of the recipient; and

(d) must state that it is being given by ASIC under regulation 7.5A.104 ; and

(e) must specify details of each alleged contravention of the rule to which the infringement notice relates, including:

(i) the conduct that made up each alleged contravention (including, to the extent known, the date on which it occurred and the place at which it occurred); and

(ii) each rule that ASIC alleges the recipient has contravened; and

(f) must, in relation to each rule that ASIC alleges the recipient has contravened, state the maximum pecuniary penalty that a Court could order the recipient to pay for contravening the rule; and

(g) must, in relation to each alleged contravention of the rule to which the infringement notice relates:

(i) specify the penalty (if any) payable for each alleged contravention of the rule; and

(ii) if subparagraph (i) applies:

(A) specify the total penalty that the recipient must pay to the Commonwealth; and

(B) state that the penalty is payable to ASIC on behalf of the Commonwealth; and

(C) explain how payment of the penalty can be made; and

(iii) specify the remedial measures (if any) that the recipient must undertake or institute; and

(iv) specify the sanctions (if any) that the recipient must accept; and

(v) specify the terms of an undertaking (if any) that the recipient must enter into under regulation 7.5A.101 ; and

(h) must state that the recipient may choose not to comply with the infringement notice, but that if the recipient does not comply, civil proceedings may be brought against the recipient in relation to the alleged contravention; and

(i) must explain what the recipient must do to comply with the infringement notice and the effect of compliance with the infringement notice; and

(j) must state that the recipient may apply to ASIC:

(i) for withdrawal of the notice under regulation 7.5A.111 ; or

(ii) for an extension of time under regulation 7.5A.109 ; and

(k) must state that ASIC may publish details of the infringement notice under regulation 7.5A.115 ; and

(l) may include any other information that ASIC considers necessary.

Note: For sub-subparagraph (g)(ii)(A), the total penalty is the sum of the penalties payable under subparagraph (g)(i).