Victorian Consolidated Legislation

Futures Industry (Application of Laws) Act 1986 - SECT 14A

Regulations for penalty notices

14A. Regulations for penalty notices



(1) The Governor in Council may make regulations that-

   (a)  prescribe offences against the Futures Industry (Victoria) Code (not
        being offences the penalties applicable to which include a term of
        imprisonment that exceeds six months or a pecuniary penalty that
        exceeds $2500), or offences against the Futures Industry (Victoria)
        Regulations, for the purposes of section 149 of the Futures Industry
        (Victoria) Code; and

   (b)  in relation to each offence that is prescribed pursuant to this
        subsection-

   (i)  prescribe the particulars of that offence that are to be given in a
        notice served on a person under section 149 of the Futures Industry
        (Victoria) Code in relation to the offence; and

   (ii) prescribe the amount of the penalty (being an amount that does not
        exceed half the amount of the penalty applicable to the offence) that
        is payable in respect of the offence pursuant to a notice served on
        the person under section 149 of the Futures Industry (Victoria) Code
        in relation to the offence.

(2) In subsection (1), a reference to a penalty applicable to an offence is a
reference to the penalty that is applicable to that offence by virtue of any
of the provisions of section 148 of the Futures Industry (Victoria) Code.

(3) Unless the regulations otherwise prescribe, the particulars of an offence
required to be prescribed by subsection (1)(b)(i) are to be set out in the
form prescribed by the Futures Industry (Victoria) Regulations for the
purposes of section 149 of the Futures Industry (Victoria) Code in relation to
the offence.

(4) A provision of the Futures Industry (Victoria) Regulations that is
inconsistent with a provision of regulations made under this section has no
effect.

(5) Except as provided in subsection (4), regulations under this section shall
be read and construed as one with the Futures Industry (Victoria) Regulations.

_______________