Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a person is a licence holder; and
(b) the person has lodged a security with the Designated Authority;
the Joint Authority may use the security to discharge the person's obligations arising from a failure to comply with:
(c) this Act; or
(d) the licence conditions; or
(e) a compliance direction.
(2) Without limiting subsection (1), the holder's financial obligations include the obligation to pay a penalty imposed under the licence conditions.
(3) Subject to subsection (1), the Joint Authority is to deal with a security in accordance with the regulations.