Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 2 - Dealing with clients ' money  

Subdivision AA - Client money reporting rules  

REGULATION 7.8.05D   EFFECT OF CLIENT MONEY REPORTING INFRINGEMENT NOTICE PROVISIONS  

7.8.05D(1)    
Regulations 7.8.05C to 7.8.05Q do not require ASIC to give a client money reporting infringement notice to a person in relation to an alleged contravention of a client money reporting rule.

7.8.05D(2)    
Regulations 7.8.05C to 7.8.05Q do not affect the liability of a person to civil proceedings if ASIC does not give a client money reporting infringement notice to the person in relation to an alleged contravention of a client money reporting rule.

7.8.05D(3)    
Regulations 7.8.05C to 7.8.05Q do not affect the liability of a person to civil proceedings if:


(a) ASIC gives a client money reporting infringement notice to the person in relation to an alleged contravention of a client money reporting rule; and


(b) either:


(i) the infringement notice is withdrawn; or

(ii) the person does not comply with the infringement notice in accordance with regulation 7.8.05H .

7.8.05D(4)    
Regulations 7.8.05C to 7.8.05Q do not limit or otherwise affect the penalty that a Court could impose on the person for a contravention of a client money reporting rule.


 

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