Corporations Act 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.4AA - INFRINGEMENT NOTICES FOR ALLEGED CONTRAVENTIONS OF CONTINUOUS DISCLOSURE PROVISIONS  

SECTION 1317DAC   ISSUE OF INFRINGEMENT NOTICE  

1317DAC(1)   Issue of infringement notice.  

Subject to section 1317DAD , if ASIC has reasonable grounds to believe that a disclosing entity has contravened subsection 674(2) or 675(2) , ASIC may issue an infringement notice to the disclosing entity.

1317DAC(2)   [ Issue by service]  

ASIC issues the infringement notice to the disclosing entity by serving it on the disclosing entity.

1317DAC(3)   [ Multiple notices]  

ASIC must not issue more than one infringement notice to the disclosing entity for the same alleged contravention of subsection 674(2) or 675(2) .

1317DAC(4)   ASIC must have regard to certain matters.  

In determining whether to issue an infringement notice to a listed disclosing entity for an alleged contravention of subsection 674(2) , ASIC must have regard to:

(a) any guidelines issued by the relevant market operator for the listed disclosing entity that relate to the provisions of the listing rules referred to in subsection 674(1) ; and

(b) any other relevant matter.

1317DAC(5)   Infringement notice does not have effect.  

The infringement notice does not have any effect if the infringement notice:

(a) is issued more than 12 months after the day on which the contravention of subsection 674(2) or 675(2) is alleged to have occurred; or

(b) relates to more than one alleged contravention of subsection 674(2) or 675(2) by the disclosing entity.