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CORPORATIONS ACT 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.4AA - INFRINGEMENT NOTICES FOR ALLEGED CONTRAVENTIONS OF CONTINUOUS DISCLOSURE PROVISIONS    View history reference

History

Part 9.4AA inserted by No 103 of 2004, s 3, Sch 6, Pt 2 [ 9] (effective 1 July 2004).

SECTION 1317DAG  EFFECT OF FAILURE TO COMPLY WITH INFRINGEMENT NOTICE  

 View history reference

1317DAG(1)  Circumstances in which this section applies.  


This section applies if an infringement notice issued to a disclosing entity is not withdrawn under section 1317DAI .

History

S 1317DAG(1) inserted by No 103 of 2004, s 3, Sch 6, Pt 2 [ 9].

1317DAG(2)  Effect of failure to comply with infringement notice.  


If the disclosing entity fails to do a thing specified in column 2 of the following table within the compliance period for the infringement notice, the disclosing entity is liable to the proceedings specified in column 3 of the following table:

Table

Effect of failure to comply with infringement notice
Column 1Column 2Column 3
ItemIf the disclosing entity fails to:the disclosing entity is liable to:
1pay the penalty specified in the infringement noticeproceedings under Part 9.4B for:
(a) a declaration of contravention; and
(b) a pecuniary penalty order;
in relation to the alleged contravention of the provision specified in the infringement notice.
2notify the relevant market operator, in accordance with the provisions of the listing rules referred to in subsection 674(1) , of any information specified in the infringement notice if it is alleged in the infringement notice that the disclosing entity contravened subsection 674(2)proceedings for an order under section 1324B in relation to the alleged contravention of the provision specified in the infringement notice.
3lodge any required document with ASIC that contains the information specified in the infringement notice if it is alleged in the infringement notice that the disclosing entity contravened subsection 675(2)proceedings for an order under section 1324B in relation to the alleged contravention of the provision specified in the infringement notice.

History

S 1317DAG(2) inserted by No 103 of 2004, s 3, Sch 6, Pt 2 [ 9].

1317DAG(3)  No other proceedings may be started etc.  


Subject to subsection (4), no other proceedings (whether criminal or civil) may be started or continued against the disclosing entity in relation to:


(a) the alleged contravention of the provision specified in the infringement notice; or


(b) an offence constituted by the same conduct that constituted the alleged contravention.

History

S 1317DAG(3) inserted by No 103 of 2004, s 3, Sch 6, Pt 2 [ 9].

1317DAG(4)  

Subsection (3) does not apply to the following proceedings:


(a) compensation proceedings, contravention proceedings, enforcement proceedings and public interest proceedings that relate to the alleged contravention of the provision specified in the infringement notice;


(b) proceedings to enforce the following orders of a Court:


(i) an order made in relation to penalty and disclosure proceedings;

(ii) an order made in relation to proceedings referred to in paragraph (a);

(iii) an order made under subsection 1335(2) in relation to penalty and disclosure proceedings;

(iv) an order made under subsection 1335(2) in relation to proceedings referred to in paragraph (a) other than public interest proceedings;


(c) any other proceedings in respect of a breach of an order referred to in paragraph (b);


(d) an appeal to a Court against the following decisions or orders of a Court:


(i) a decision or order made in relation to penalty and disclosure proceedings;

(ii) a decision or order made in relation to proceedings referred to in paragraph (a);

(iii) a decision or order made under subsection 1335(2) in relation to penalty and disclosure proceedings;

(iv) a decision or order made under subsection 1335(2) in relation to proceedings referred to in paragraph (a) other than public interest proceedings.

History

S 1317DAG(4) inserted by No 103 of 2004, s 3, Sch 6, Pt 2 [ 9].

1317DAG(5)  

To avoid doubt, subsection (3) does not prevent ASIC from:


(a) making a determination under subsection 708AA(3) , 708A(2) , 713(6) , 713A(23) , 1012DAA(3) , 1012DA(2) or 1013FA(3) of this Act; or
 View history reference


(b) making an order under section 91 of the ASIC Act; or


(c) accepting an undertaking under section 93AA of the ASIC Act; or


(d) bringing proceedings to enforce the determination, order or undertaking.

History

S 1317DAG(5) amended by No 100 of 2014, s 3, Sch 1 [ 49] (effective 19 December 2014).

S 1317DAG(5) amended by No 101 of 2007, s 3, Sch 1, Pt 1 [ 167].

S 1317DAG(5) inserted by No 103 of 2004, s 3, Sch 6, Pt 2 [ 9].


 



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