Document ID: chunk:federal_register_of_legislation:C2025C00182:section:12glc
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 12GLC
Character Range: 233396–234633

12GLC  ASIC may issue a public warning notice

Contraventions
 (1) ASIC may issue to the public a written notice containing a warning about the conduct of a person if:
 (a) ASIC has reasonable grounds to suspect that the conduct may constitute a contravention of a provision of Subdivision BA, C or D; and
 (b) ASIC is satisfied that one or more other persons has suffered, or is likely to suffer, detriment as a result of the conduct; and
 (c) ASIC is satisfied that it is in the public interest to issue the notice.

Substantiation notices
 (2) Without limiting subsection (1), if:
 (a) a person refuses to respond to a substantiation notice given to the person, or fails to respond to the notice before the end of the substantiation notice compliance period for the notice; and
 (b) ASIC is satisfied that it is in the public interest to issue a notice under this subsection;
ASIC may issue to the public a written notice containing a warning that the person has refused or failed to respond to the substantiation notice within that period, and specifying the matter to which the substantiation notice related.

Notice is not a legislative instrument
 (3) A notice issued under subsection (1) or (2) is not a legislative instrument.