Section 1317E PDF

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CORPORATIONS ACT 2001 - SECT 1317E Declarations of contravention

Page 1 of 6

Aus Austr tr tra alasian LLe ega gall Inf Informa orma ormatio tio tion n Ins Institute titute

Commonw ealth Consolida ts Commonwe nsolidatted Ac Acts

RPORATIO TIONS 001 SECT 1317E Declar Declara ions of of CCO ORPORA RPORATIO TIONS NS AACCTT 2200 200 0011 -- SEC SECTT 1317E Declaraattions contr avention ontravention CORP ORPORA ORA ORATIONS TIONS A AC CT 2200 00 0011 - SEC SECT T 1317E Declara Declaratio tions of contr ontravention avention  (1) If a Court is satisfied that a person has contravened a civil penalty provision, it must make a declaration of contravention. The provisions specified in column 1 of the following table are civil penalt penaltyy provisions .

Civil penalty pr prov ov ovisio isio isions ns Item

Colu lumn mn 1

Column 2

provisio provisions ns that are civil brief description of wha hatt the provisio provisions ns are ab abou ou outt penalty pr provi ovi ovision sion sionss 1

subsections180(1), 181(1) officers' duties and (2), 182(1) and (2) and 183(1) and (2)

2

subsections188(1) and (2)

responsibilities

of

secretaries etc. for corporate contraventions 3

subsection209(2)

related parties rules

4

subsections254L(2), 256D share capital transactions (3), 259F(2) and 260D(2)

5

subsection344(1)

requirements for financial reports

6

subsection588G(2)

insolvent trading

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CORPORATIONS ACT 2001 - SECT 1317E Declarations of contravention

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Civil penalty pr prov ov ovisio isio isions ns Item

Column 2

Colu lumn mn 1

hatt the provisio provisions ns that are civil brief description of wha provisio provisions ns are ab abou ou outt penalty pr provi ovi ovision sion sionss 7

subsection601FC(5)

duties of responsible entity

8

subsection601FD(3)

duties

of

officers

of

responsible entity 9

subsection601FE(3)

duties of employees of responsible entity

10

subsection601FG(2)

acquisition of interest in scheme entity

by

responsible

11

subsection601JD(3)

duties of members

12

subsection601UAA(2)

duties

of

officers

of

licensed trustee company 13

subsection601UAB(2)

duties of employees of licensed trustee company

14

subsections674(2),

674 continuous disclosure

(2A), 675(2) and 675(2A) 15

subsection798H(1)

complying

with

market

integrity rules 16

section901E

complying with derivative transaction rules

17

section903D

complying with derivative trade repository rules

17A

subsection908CF(1)

complying with financial benchmark rules or compelled

financial

benchmark rules 17B

subsections908DA(1)

and manipulating

(2) and 908DB(1) and (2) 18

financial

benchmarks

subsections961K(1) and (2)

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CORPORATIONS ACT 2001 - SECT 1317E Declarations of contravention

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Civil penalty pr prov ov ovisio isio isions ns Item

Colu lumn mn 1

Column 2

provisio provisions ns that are civil brief description of wha hatt the provisio provisions ns are ab abou ou outt penalty pr provi ovi ovision sion sionss financial services licensee responsible for breach of certain best interests duties 19

section961L

financial services licensee to ensure compliance with certain best interests duties

20

subsection961Q(1)

authorised representative responsible for breach of certain best interests duties

21

section962P

charging ongoing fee after termination of ongoing fee arrangement

22

subsection962S(1)

fee recipient must give fee disclosure statement

23

subsections963E(1) and (2)

financial services licensee responsible for breach of ban on remuneration

24

section963F

financial services licensee must ensure representatives accept remuneration

25

subsection963G(1)

conflicted

do

not

conflicted

authorised representative must not accept conflicted remuneration

26

section963J

employer must not pay employees

conflicted

remuneration 27

section963K

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CORPORATIONS ACT 2001 - SECT 1317E Declarations of contravention

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Civil penalty pr prov ov ovisio isio isions ns Item

Colu lumn mn 1

Column 2

hatt the provisio provisions ns that are civil brief description of wha provisio provisions ns are ab abou ou outt penalty pr provi ovi ovision sion sionss financial product issuer or seller

must

not

give

conflicted remuneration to financial services licensee or representative 28

subsection964A(1)

platform operator must not accept volume-based shelfspace fees

29

subsections964D(1) and (2) financial services licensee responsible for breach of asset-based fees on borrowed amounts

30

subsection964E(1)

authorised representative must not charge assetbased fees on borrowed amounts

31

section965

anti-avoidance of Part7.7A provisions

31A

subsection981M(1)

complying

with

client

money reporting rules 32

subsection985E(1)

issuing or increasing limit of margin lending facility without having made assessment etc.

33

subsection985H(1)

failure to assess a margin lending

facility

as

unsuitable

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CORPORATIONS ACT 2001 - SECT 1317E Declarations of contravention

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Civil penalty pr prov ov ovisio isio isions ns Item

Colu lumn mn 1

Column 2

provisio provisions ns that are civil brief description of wha hatt the provisio provisions ns are ab abou ou outt penalty pr provi ovi ovision sion sionss 34

subsection985J(1)

failure to give assessment to retail client if requested before issue of facility or increase in limit

35

subsection985J(2)

failure to give assessment to retail client if requested after issue of facility or increase in limit

36

subsection985J(4)

demanding payment to give assessment to retail client

37

subsection985K(1)

issuing or increasing limit of margin lending facility if unsuitable

38

section985L

making issue of margin lending facility conditional on retail client agreeing to receive

communications

through agent 39

subsection985M(1)

failure to notify of margin call where there is no agent

40

subsection985M(2)

failure to notify of margin call where there is an agent

41

section1041A

market manipulation

42

subsection1041B(1)

false trading and market rigging--creating a false or misleading appearance of active trading etc.

43

subsection1041C(1)

false trading and market rigging--artificially

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CORPORATIONS ACT 2001 - SECT 1317E Declarations of contravention

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Civil penalty pr prov ov ovisio isio isions ns Item

Column 2

Column 1

hatt the provisio provisions ns that are civil brief description of wha provisio provisions ns are ab abou ou outt penalty pr provi ovi ovision sion sionss maintaining

etc.

market

price 44

section1041D

dissemination of information about illegal transactions

45

subsections1043A(1)

and insider trading

(2) 46

subclause29(6)

of disclosure

Schedule4

for

proposed

demutualisation

Note : Once a declaration has been made ASC can then seek a pecuniary penalty order (sectionG) or (in the case of a corporation/scheme civil penalty provision) a disqualification order (sectionC). Note : The descriptions of matters in column  are indicative only. Note : SectionDD contains some matters relevant for making declarations of contravention for the civil penalty provisions mentioned in table itemB (about manipulating financial benchmarks).  () A declaration of contravention must specify the following:  (a) the Court that made the declaration;  (b) the civil penalty provision that was contravened;  (c) the person who contravened the provision;  (d) the conduct that constituted the contravention;  (e) if the contravention is of a corporation/scheme civil penalty provision--the corporation or registered scheme to which the conduct related.

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