(1) The regulations may prescribe a code of conduct for the purposes of this Division and declare it to be a mandatory code of conduct.
(2) Regulations declaring a code of conduct a mandatory code of conduct may also:
(a) confer functions and powers on a person or body for the purposes of:
(i) monitoring compliance with the code of conduct; and
(ii) dealing with disputes or complaints arising under, or in relation to, the code of conduct; and
(iii) dealing with other associated administrative matters; or
(b) provide for and in relation to:
(i) the keeping of records by persons bound by the code of conduct; and
(ii) reporting obligations of such persons.
(3) If regulations prescribe a code of conduct, the code of conduct may prescribe pecuniary penalties not exceeding 1,000 penalty units for civil penalty provisions of the code of conduct.
(4) To avoid doubt, subsections 1317G(3) and (4) do not apply in relation to the contravention of a civil penalty provision of a mandatory code of conduct.