Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5A.114

Withdrawal of notice after compliance

             (1)  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.

             (2)  If an infringement notice is withdrawn after the penalty specified in it (if any) has been paid, the Commonwealth must refund the amount of the penalty to the person who paid it.

             (3)  If an infringement notice is withdrawn after the recipient has complied with a requirement specified in the infringement notice: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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