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CORPORATIONS ACT 2001 - SECT 798K Alternatives to civil proceedings

CORPORATIONS ACT 2001 - SECT 798K

Alternatives to civil proceedings

  (1)   The regulations may provide for a person who is alleged to have contravened subsection   798H(1) (complying with market integrity rules) to do one or more of the following as an alternative to civil proceedings:

  (a)   pay a penalty to the Commonwealth;

  (b)   undertake or institute remedial measures (including education programs);

  (c)   accept sanctions other than the payment of a penalty to the Commonwealth;

  (d)   enter into a legally enforceable undertaking.

  (2)   The penalty payable under regulations made under paragraph   (1)(a) in relation to an alleged contravention of a market integrity rule must not exceed:

  (a)   for an individual--3,000 penalty units; and

  (b)   for a body corporate--15,000 penalty units.

  (3)   Without limiting regulations that may be made under paragraph   (1)(d), those regulations may provide for one or more of the following kinds of undertakings:

  (a)   an undertaking to take specified action within a specified period;

  (b)   an undertaking to refrain from taking specified action;

  (c)   an undertaking to pay a specified amount within a specified period to the Commonwealth or to some other specified person.

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