CORPORATIONS ACT 2001 - SECT 1317DAH Meaning of compliance period
CORPORATIONS ACT 2001 - SECT 1317DAH
Meaning of compliance period(1) Subject to this section, the compliance period for an infringement notice is a period of 28 days beginning on the day after the day on which the infringement notice is issued.
(2) ASIC may extend, by notice in writing, the compliance period for the infringement notice if ASIC is satisfied that it is appropriate to do so.
(3) Only one extension may be given and the extension must not be for longer than 28 days.
(4) Notice of the extension must be given to the disclosing entity that was issued with the infringement notice.
(5) A failure to comply with subsection (4) does not affect the validity of the extension.
(6) If ASIC extends the compliance period for an
infringement notice, a reference in this Act to the compliance period for an
infringement notice is taken to be a reference to the compliance period as so
extended.