Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p98
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 98/148)
Character Range: 576982–579816

(b) undertake or institute remedial measures (including education programs);
 (c) accept sanctions other than the payment of a penalty to the Commonwealth (including public censure, suspension for no more than six months from performing certain financial services in relation to a licensed market, or disgorgement of profits);
 (d) enter into an undertaking under regulation 7.2A.01, including an undertaking to do an action mentioned in paragraph (a), (b) or (c).
 (2) This Division does not require ASIC to give an infringement notice to a person in relation to the alleged contravention of subsection 798H(1) of the Act.
 (3) This Division 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 subsection 798H(1) of the Act.
 (4) This Division 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 subsection 798H(1) of the Act; and
 (b) either:
 (i) the notice is withdrawn; or
 (ii) the person does not comply with the notice in accordance with regulation 7.2A.08.
 (5) This Division does not limit or otherwise affect the penalty that a Court could impose on the person for a contravention of subsection 798H(1) of the Act.

7.2A.03  Definitions for Division 7.2A.2
  In this Division:
compliance period has the meaning given by subregulation 7.2A.08(2).
infringement notice means an infringement notice given under regulation 7.2A.04.
recipient, in relation to an infringement notice, means the person to whom ASIC gives the infringement notice or intends to give the infringement notice under regulation 7.2A.04.

7.2A.04  When infringement notice can be given
 (1) If ASIC has reasonable grounds to believe that a person has contravened subsection 798H(1) of the Act, ASIC may give to the person an infringement notice in relation to the alleged contravention.
 (2) ASIC may give a person an infringement notice that is in relation to more than one alleged contravention of subsection 798H(1) of the Act.
 (3) If ASIC withdraws an infringement notice given to a person in relation to the alleged contravention of subsection 798H(1) of the Act, ASIC may give the person a new infringement notice in relation to the alleged contravention.
Example for subregulation (3): An infringement notice given to a person in relation to an alleged contravention of subsection 798H(1) of the Act may be withdrawn, and a new infringement notice given to the person in relation to that alleged contravention, if the original infringement notice contained an error.

7.2A.05  Statement of reasons must be given
 (1) Before giving a recipient an infringement notice, ASIC must:
 (a) give the recipient a written statement