Document ID: chunk:federal_register_of_legislation:C2024C00826:section:322:p1
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 322 (pt 1/2)
Character Range: 692527–695329

322  Enforcement of undertakings
 (1) ASIC may accept a written undertaking given by a person in connection with a matter in relation to which ASIC has a function or power under the Commonwealth credit legislation.
 (2) The person may withdraw or vary the undertaking at any time, but only with ASIC's consent.
 (3) If ASIC considers that the person who gave the undertaking has breached any of its terms, ASIC may apply to the court for an order under subsection (4).
 (4) If the court is satisfied that the person has breached a term of the undertaking, the court may make all or any of the following orders:
 (a) an order directing the person to comply with that term of the undertaking;
 (b) an order directing the person to pay to the Commonwealth an amount up to the amount of any financial benefit that the person has obtained directly or indirectly and that is reasonably attributable to the breach;
 (c) any order that the court considers appropriate directing the person to compensate any other person who has suffered loss or damage as a result of the breach;
 (d) any other order that the court considers appropriate.

National Consumer Credit Protection Act 2009

No. 134, 2009

Compilation No. 49

Compilation date: 11 December 2024

                Includes amendments: Act No. 138, 2024

This compilation is in 2 volumes

Volume 1: sections 1–322
Volume 2: sections 323–337
 Schedule 1
 Endnotes

Each volume has its own contents

About this compilation

This compilation

This is a compilation of the National Consumer Credit Protection Act 2009 that shows the text of the law as amended and in force on 11 December 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the