Document ID: chunk:federal_register_of_legislation:C2004A04777:section:5:p7
Version: federal_register_of_legislation:C2004A04777
Segment Type: section
Provision Reference: s 5 (pt 7/16)
Character Range: 63614–66400

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 the persons in a class of persons affected by the decision, if the Commission determines that giving notice to the person or persons is not warranted, having regard to:

  (a) the cost of giving notice to the person or persons; and

     (b) the way in which the interests of the person or persons are affected by the decision.

"(4) A failure to comply with this section does not affect the validity of the decision.

"(5) The fact that a person has not been given notice of the decision because of a determination under subsection (3) constitutes special circumstances for the purposes of subsection 29(6) of the Administrative Appeals Tribunal Act 1975.".

SCHEDULE 5—continued

PART 3—AMENDMENTS OF CORPORATIONS LAW

3. Section 1317C:

  Add at the end:

"; or (h) a decision to make a determination under subsection 1317D(3).".

4. After section 1317C:

  Insert in Part 9.4A:

Notice of reviewable decision and review rights

"1317D.(1) This section applies if the Minister, the Commission or the Companies Auditors and Liquidators Disciplinary Board (the 'decision maker') makes a decision to which section 1317B applies.

"(2) Subject to subsection (3), the decision maker 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 Tribunal.

"(3) Subsection (2) does not require the decision maker to give notice to a person affected by the decision or to the persons in a class of persons affected by the decision, if the decision maker determines that giving notice to the person or persons is not warranted, having regard to:

  (a) the cost of giving notice to the person or persons; and

     (b) the way in which the interests of the person or persons are affected by the decision.

"(4) A failure to comply with this section does not affect the validity of the decision.

"(5) The fact that a person has not been given notice of the decision because of a determination under subsection (3) constitutes special circumstances for the purposes of subsection 29(6) of the Administrative Appeals Tribunal Act 1975.".

                         SCHEDULE 6 Section 9

AMENDMENTS OF ASC ACT AND CORPORATIONS LAW
INTRODUCING PENALTY UNITS

PART 1—AMENDMENTS OF ASC ACT

1. Subsection 5(1):

  Insert:

" 'penalty unit' means $100;".

2. Amend the Act in accordance with the following table:

                  Provision to be