Document ID: chunk:federal_register_of_legislation:C2018C00124:clause:5_981n
Version: federal_register_of_legislation:C2018C00124
Segment Type: clause
Provision Reference: sch 5 cl 981N
Character Range: 24459–25623

981N  Alternatives to civil proceedings
 (1) The regulations may provide for a person who is alleged to have contravened subsection 981M(1) (complying with client money reporting rules) to do one or more of the following as an alternative to civil proceedings:
 (a) pay a penalty to the Commonwealth;
 (b) undertake or institute remedial measures (including education programs);
 (c) accept sanctions other than the payment of a penalty to the Commonwealth;
 (d) enter into a legally enforceable undertaking.
 (2) The penalty payable under regulations made for the purposes of paragraph (1)(a) in relation to a client money rule must not exceed three‑fifths of the penalty amount set out in the client money rules for the rule.
 (3) Without limiting regulations that may be made for the purposes of paragraph (1)(d), those regulations may provide for one or more of the following kinds of undertakings:
 (a) an undertaking to take specified action within a specified period;
 (b) an undertaking to refrain from taking specified action;
 (c) an undertaking to pay a specified amount within a specified period to the Commonwealth or to some other specified person.