Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.5A
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REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES
Division 2
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Regulation of derivative transactions: derivative transaction rules
Subdivision 2.3
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Infringement notices
REGULATION 7.5A.105
STATEMENT OF REASONS MUST BE GIVEN
7.5A.105(1)
Before giving a recipient an 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 rule; and
(b) give the recipient, or a representative of the recipient, an opportunity to:
7.5A.105(2)
If a recipient, or a representative of a recipient, gives ASIC evidence or information under paragraph (1)(b), 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.
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
Before giving a recipient an 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 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 rule.
7.5A.105(2)
If a recipient, or a representative of a recipient, gives ASIC evidence or information under paragraph (1)(b), 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.