Corporations Regulations 2001
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.]
ASIC may withdraw an infringement notice after the recipient has complied with the infringement notice only if the recipient agrees, in writing, to the withdrawal.
7.2A.14(2) [ Refund of penalty]If an infringement notice is withdrawn after the penalty specified in it (if any) has been paid, the Commonwealth must refund the amount of the penalty to the person who paid it.
7.2A.14(3) [ Requirements in notice no longer enforceable]If an infringement notice is withdrawn after the recipient has complied with a requirement specified in the infringement notice:
(a) to undertake or institute remedial measures; or
(b) to accept sanctions other than a payment of a penalty to the Commonwealth; or
(c) to enter into an undertaking;
the remedial measures, sanctions or undertaking are taken to no longer be enforceable by ASIC.
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