Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p18
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 18/43)
Character Range: 746729–749534

and, if the decision is a refusal, the reasons for the decision.
 (4) If ASIC refuses a further period under paragraph (3)(a), the recipient may not make a further application under subregulation (1) in relation to that infringement notice.
 (5) If ASIC has not granted or refused a further period under paragraph (3)(a) within 14 days after receiving the application, ASIC is taken to have refused the further period.

7.5A.110  Effect of compliance with infringement notice
 (1) Subject to subregulation (3), if:
 (a) an infringement notice is given to a recipient in relation to an alleged contravention of a rule; and
 (b) the infringement notice is not withdrawn; and
 (c) the recipient complies with the infringement notice;
the effects in subregulation (2) apply.
 (2) The effects are:
 (a) any liability of the recipient to the Commonwealth for the alleged contravention of the rule is discharged; and
 (b) no civil or criminal proceedings may be brought or continued by the Commonwealth against the recipient for the conduct specified in the infringement notice as being the conduct that made up the alleged contravention of the rule; and
 (c) no administrative action may be taken by ASIC under section 914A, 915B, 915C or 920A of the Act against the recipient for the conduct specified in the infringement notice as being the conduct that made up the alleged contravention of the rule; and
 (d) the recipient is not taken to have admitted guilt or liability in relation to the alleged contravention; and
 (e) the recipient is not taken to have contravened the rule.
Note: Third parties are not prevented from commencing civil proceedings against the recipient, including under section 1101B of the Act. ASIC is not prevented from applying for an order on behalf of a plaintiff in accordance with the Act.
 (3) Subregulation (2) does not apply if the recipient has knowingly:
 (a) provided false or misleading information to ASIC; or
 (b) withheld evidence or information from ASIC;
in relation to the alleged contravention of the rule.

7.5A.111  Application to withdraw infringement notice
 (1) During the compliance period, a recipient of an infringement notice may apply, in writing, to ASIC for the infringement notice to be withdrawn.
 (2) The application must:
 (a) specify the infringement notice's unique code; and
 (b) set out the reasons for the application.
 (3) Within 14 days after receiving the application, ASIC must:
 (a) withdraw or refuse to withdraw the infringement notice; and
 (b) notify the recipient in writing of the decision and, if the decision is a refusal, the reasons for the decision.
 (4) Without limiting subregulation (3), ASIC may withdraw the infringement notice after taking into account the following matters:
 (a) whether the recipient has previously been