Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p14
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 14/43)
Character Range: 736625–739351

within a specified period to the Commonwealth or to some other specified person.
Note: An undertaking may relate to an infringement notice given in relation to the alleged contravention. For example, an infringement notice may require a person to enter into an undertaking; a person may enter into an undertaking to comply with an infringement notice; a person may enter into an undertaking if the person does not comply with an infringement notice or the infringement notice is withdrawn.
 (4) If ASIC agrees, in writing, to the withdrawal or variation of the undertaking, the person who entered into the undertaking may withdraw or vary the undertaking.
 (5) If ASIC is satisfied that the person who entered into the undertaking has breached a term of the undertaking, ASIC may apply to a Court for an order under subregulation (6).
 (6) If the Court is satisfied that the person has breached a term of the undertaking, the Court may make one or more of the following orders:
 (a) an order directing the person to comply with the term of the undertaking;
 (b) an order directing the person to pay to the Commonwealth an amount not exceeding the amount of any financial benefit that the person has obtained directly or indirectly and that is reasonably attributable to the breach;
 (c) an order directing the person to compensate another person who has suffered loss or damage as a result of the breach;
 (d) any other order that the Court considers appropriate.
 (7) This regulation does not affect the liability of a person to civil proceedings if ASIC does not accept an undertaking in relation to the alleged contravention of section 901E or 903D of the Act.

Subdivision 2.3—Infringement notices

7.5A.102  Infringement notices
 (1) This Subdivision is made for sections 901F and 903E of the Act.
 (2) This Subdivision does not require ASIC to give an infringement notice to a person in relation to the alleged contravention of those sections.
 (3) This Subdivision does not affect the liability of a person to civil proceedings if ASIC does not give an infringement notice to the person in relation to the alleged contravention of those sections.
 (4) This Subdivision does not affect the liability of a person to civil proceedings if:
 (a) ASIC gives an infringement notice to the person in relation to the alleged contravention of those sections; and
 (b) either:
 (i) the notice is withdrawn; or
 (ii) the person does not comply with the notice in accordance with regulation 7.5A.108.
 (5) This Subdivision does not limit or otherwise affect the penalty that a Court could impose on the person for a contravention of those sections.

7.5A.103  Definitions for Subdivision
  In this Subdivision:
compliance period has