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CORPORATIONS ACT 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.4B - CIVIL CONSEQUENCES OF CONTRAVENING CIVIL PENALTY PROVISIONS  

SECTION 1317J  WHO MAY APPLY FOR A DECLARATION OR ORDER  

1317J(1)  Application by ASIC.  


ASIC may apply for a declaration of contravention, a pecuniary penalty order or a compensation order.

1317J(2)  Application by corporation.  


The corporation, or the responsible entity for the registered scheme, may apply for a compensation order.

Note: An application for a compensation order may be made whether or not a declaration of contravention has been made under section 1317E.

1317J(3)  

The corporation, or the responsible entity for the registered scheme, may intervene in an application for a declaration of contravention or a pecuniary penalty order in relation to the corporation or scheme. The corporation or responsible entity is entitled to be heard on all matters other than whether the declaration or order should be made.

1317J(3A)  Compensation order relating to financial services civil penalty provision - any other person who suffers damage may apply.  

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Any other person who suffers damage in relation to a contravention, or alleged contravention, of a financial services civil penalty provision may apply for a compensation order under section 1317HA.

Note: An application for a compensation order may be made whether or not a declaration of contravention has been made under section 1317E.

1317J(3B)  

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Subsections (2) and (3) do not apply in relation to a contravention of:


(a) section 901E (complying with derivative transaction rules); or


(b) section 903D (complying with derivative trade repository rules).

1317J(4)  No one else may apply.  


No person may apply for a declaration of contravention, a pecuniary penalty order or a compensation order unless permitted by this section.

1317J(5)  

Subsection (4) does not exclude the operation of the Director of Public Prosecutions Act 1983.

 



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