(1) Before giving a recipient a client money reporting infringement notice, ASIC must:
(a) give the recipient a written statement that sets out ASIC's reasons for believing that the recipient has contravened a client money reporting rule ; and
(b) give the recipient, or a representative of the recipient, an opportunity to:
(i) appear at a private hearing before ASIC; and
(ii) give evidence to ASIC; and
(iii) make submissions to ASIC;
in relation to the alleged contravention of the client money reporting rule .
(2) If a recipient, or a representative of a recipient, gives ASIC evidence or information under paragraph (1)(b) in relation to the alleged contravention of a client money reporting rule , the evidence or information is not admissible in evidence in any proceedings against the recipient, other than proceedings relating to the evidence or information being false or misleading.