Document ID: chunk:federal_register_of_legislation:C2004A04777:section:5:p6
Version: federal_register_of_legislation:C2004A04777
Segment Type: section
Provision Reference: s 5 (pt 6/16)
Character Range: 61066–63855

to be affected, by the inquiry about a matter relevant to the inquiry.

"(2) The person may withdraw or vary the undertaking at any time, but only with the consent of the Panel.

"(3) If the Panel considers that the person has breached any of the terms of the undertaking, the Panel 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;

SCHEDULE 4—continued

     (b) 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;

  (c) any other order that the Court considers appropriate.".

PART 2—AMENDMENTS OF CORPORATIONS LAW

31. Paragraph 731(d):

  After "company have" insert "reasonable and".

32. Section 732:

  Add at the end:

  "(2) Paragraph (1)(d) may be satisfied because of:

     (a) actions of the person acquiring, or proposing to acquire, the substantial interest; or

     (b) actions of the directors of the company, including actions that caused the acquisition not to proceed, or that contributed to it not proceeding.".

33. Subsection 733(5):

Omit "appear at a hearing before the Panel and to make submissions and give evidence to", substitute "make submissions to an inquiry conducted by".

34. Subsection 734(6):

Omit "appear at a hearing before the Panel and to make submissions and give evidence to", substitute "make submissions to an inquiry conducted by".

                         SCHEDULE 5 Section 8

AMENDMENTS OF AAT ACT, ASC ACT AND CORPORATIONS
LAW RELATING TO REVIEW OF DECISIONS

PART 1—AMENDMENT OF AAT ACT

1. Paragraphs 27A(2)(d) and (e):

  Omit the paragraphs, substitute:

     "(d) a decision under the Corporations Law of a State or an internal Territory to which section 1317B of that Law applies; or

     (e) a decision under the ASC Law of a State or an internal Territory to which section 244 of that Law applies.".

PART 2—AMENDMENT OF ASC ACT

2. After section 244:

  Insert:

Notice of reviewable decision and review rights

"244A.(1) This section applies if the Commission makes a decision to which subsection 244(2) applies.

"(2) Subject to subsection (3), the Commission must take such steps as are reasonable in the circumstances to give to each person whose interests are affected by the decision notice, in writing or otherwise:

  (a) of the making of the decision; and

     (b) of the person's right to have the decision reviewed by the Administrative Appeals Tribunal.

"(3) Subsection (2) does not require the Commission to give notice to a person affected by the decision, or to