Document ID: chunk:federal_register_of_legislation:C2022C00218:clause:1_921k:p2
Version: federal_register_of_legislation:C2022C00218
Segment Type: clause
Provision Reference: sch 1 cl 921K (pt 2/2)
Character Range: 57973–59543

within the response period for the notice and the panel has taken into account the submission or held the hearing (as the case may be); or
 (b) all of the following apply:
 (i) the panel gave the relevant provider a proposed action notice in relation to a proposal to make a different instrument in relation to the relevant circumstances or to give the relevant provider an infringement notice in relation to the relevant circumstances;
 (ii) a submission or request for a hearing was made within the response period for the notice;
 (iii) the panel has taken into account the submission or held the hearing (as the case may be).

Infringement notices, warnings and reprimands
 (3) A Financial Services and Credit Panel must not make an instrument under subsection (1) in relation to a relevant provider because of circumstances mentioned in that subsection if the panel, or another Financial Services and Credit Panel, has given the relevant provider an infringement notice, or a warning or reprimand, in relation to those circumstances.

When a person contravenes a financial services law
 (4) To avoid doubt, a person contravenes a financial services law if a person fails to comply with a duty imposed under that law, even if the provision imposing the duty is not an offence provision or a civil penalty provision.

Instruments not legislative
 (5) An instrument made under subsection (1) is not a legislative instrument.

Interaction with ASIC Act
 (6) Subsection (2) does not limit section 158 of the ASIC Act (panels to take account of evidence and submissions).