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CORPORATIONS ACT 2001 - SECT 1317DATB

Payment period, extension of time and payment by instalments

             (1)  Sections 1317DAQ, 1317DAR and 1317DAS apply, in relation to an infringement notice given to a person by a Financial Services and Credit Panel, with the modifications provided for in subsections (2) to (6) of this section.

             (2)  The following provisions apply, in accordance with subsection (1), as if any reference in them to ASIC were a reference to the Chair of the panel:

                     (a)  subsections 1317DAQ(2) to (5);

                     (b)  subsections 1317DAR(2) to (5);

                     (c)  subsections 1317DAS(2) to (5).

             (3)  The following provisions apply, in accordance with subsection (1), as if any reference in them to ASIC were a reference to the panel:

                     (a)  subsection 1317DAR(1);

                     (b)  subsection 1317DAS(1).

             (4)  Section 1317DAQ applies, in accordance with subsection (1) of this section, as if subsection 1317DAQ(6) were omitted and the following subsection substituted:

           "(6)  If the panel under subsection 1317DATC(3) refuses, or under subsection 1317DATC(5) is taken to refuse, a representation made for the notice to be withdrawn, the payment period ends on the later of the following days:

                     (a)  the last day of the period that, without the withdrawal, would be the payment period for the notice;

                     (b)  the day that is 7 days after the day the person was given notice of the panel's decision not to withdraw the notice;

                     (c)  the day that is 7 days after the day on which the panel is taken to have refused to withdraw the infringement notice.".

             (5)  Section 1317DAR applies, in accordance with subsection (1) of this section, as if paragraph 1317DAR(2)(b) were omitted and the following paragraph substituted:

                   "(b)  if ASIC requests, in writing, that the Chair of the panel that gave the infringement notice extend the period.".

             (6)  Section 1317DAS applies, in accordance with subsection (1) of this section, as if paragraph 1317DAS(2)(b) were omitted and the following paragraph substituted:

                   "(b)  if ASIC requests, in writing, that the Chair of the panel that gave the infringement notice make such an arrangement.".



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