Review of the Operation of the Infringement Notice Provisions of the Corporations Act 2001

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Abstract:

This paper initiates a review of the Australian Securities and Investment Commission’s (ASIC) power to issue infringement notices for breaches of the continuous disclosure provisions in the Corporations Act 2001. The paper asks about experience with infringement notices, whether their issue has affected compliance generally and the usefulness and fairness of the mechanism.

Submissions may be lodged electronically, by post of facsimile. Please direct submissions to:

Infringement Notice Review
Corporations and Financial Services Division
The Treasury
Langton Crescent
PARKES ACT 2600
Phone: 02 6263 3985
Fax: 02 6263 2770
Email: reviewofsanctions@treasury.gov.au

The closing date for submissions is 1 June 2007. Submissions may appear on the Treasury website, www.treasury.gov.au (subject to any claims for confidentiality).

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