CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.2A - SUPERVISION OF FINANCIAL MARKETS  

SECTION 798K   ALTERNATIVES TO CIVIL PROCEEDINGS  

798K(1)  
The regulations may provide for a person who is alleged to have contravened subsection 798H(1) (complying with market integrity rules) to do one or more of the following as an alternative to civil proceedings:


(a) pay a penalty to the Commonwealth;


(b) undertake or institute remedial measures (including education programs);


(c) accept sanctions other than the payment of a penalty to the Commonwealth;


(d) enter into a legally enforceable undertaking.

798K(2)  


The penalty payable under regulations made under paragraph (1)(a) in relation to an alleged contravention of a market integrity rule must not exceed:


(a) for an individual - 3,000 penalty units; and


(b) for a body corporate - 15,000 penalty units.

798K(3)  
Without limiting regulations that may be made under paragraph (1)(d), those regulations may provide for one or more of the following kinds of undertakings:


(a) an undertaking to take specified action within a specified period;


(b) an undertaking to refrain from taking specified action;


(c) an undertaking to pay a specified amount within a specified period to the Commonwealth or to some other specified person.


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