Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p32
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 32/49)
Character Range: 1061669–1064482

to an alleged contravention of a client money reporting rule, ASIC may give the person a new infringement notice in relation to the alleged contravention.
Example: A client money reporting infringement notice given to a person in relation to an alleged contravention of a client money reporting rule may be withdrawn, and a new infringement notice given to the person in relation to that alleged contravention, if the original infringement notice contained an error.

7.8.05D  Effect of client money reporting infringement notice provisions
 (1) Regulations 7.8.05C to 7.8.05Q do not require ASIC to give a client money reporting infringement notice to a person in relation to an alleged contravention of a client money reporting rule.
 (2) Regulations 7.8.05C to 7.8.05Q do not affect the liability of a person to civil proceedings if ASIC does not give a client money reporting infringement notice to the person in relation to an alleged contravention of a client money reporting rule.
 (3) Regulations 7.8.05C to 7.8.05Q do not affect the liability of a person to civil proceedings if:
 (a) ASIC gives a client money reporting infringement notice to the person in relation to an alleged contravention of a client money reporting rule; and
 (b) either:
 (i) the infringement notice is withdrawn; or
 (ii) the person does not comply with the infringement notice in accordance with regulation 7.8.05H.
 (4) Regulations 7.8.05C to 7.8.05Q do not limit or otherwise affect the penalty that a Court could impose on the person for a contravention of a client money reporting rule.

7.8.05E  Statement of reasons must be given
 (1) Before giving a recipient a client money reporting infringement notice, ASIC must:
 (a) give the recipient a written statement that sets out ASIC's reasons for believing that the recipient has contravened a client money reporting rule; and
 (b) give the recipient, or a representative of the recipient, an opportunity to:
 (i) appear at a private hearing before ASIC; and
 (ii) give evidence to ASIC; and
 (iii) make submissions to ASIC;
  in relation to the alleged contravention of the client money reporting rule.
 (2) If a recipient, or a representative of a recipient, gives ASIC evidence or information under paragraph (1)(b) in relation to the alleged contravention of a client money reporting rule, the evidence or information is not admissible in evidence in any proceedings against the recipient, other than proceedings relating to the evidence or information being false or misleading.

7.8.05F  Contents of client money reporting infringement notice
  A client money reporting infringement notice:
 (a) must state the date on which it is given; and
 (b) must be identified by a unique code; and
 (c) must state the name and address of the recipient; and
 (d) must state that