Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if the Regulator:
(a) suspects, on reasonable grounds, that a person has engaged, is engaging or is proposing to engage in conduct that constituted, constitutes or would constitute:
(i) an offence against this Act; or
(ii) a contravention of a civil penalty provision; and
(b) is satisfied that it would be in the public interest to give the person a notice under this section.
(2) The Regulator may, by written notice given to the person, require the person:
(a) to undertake, or arrange for another person to undertake, an audit of whichever of the following is specified in the notice:
(i) the person's compliance with this Act;
(ii) one or more specified aspects of the person's compliance with this Act; and
(b) to give the Regulator a written report setting out the results of the audit.
(3) The notice must specify:
(a) if the notice requires the person to arrange another person to undertake the audit--requirements relating to the qualifications and independence of the other person; and
(b) the matters to be covered by the audit; and
(c) the period within which the audit must be undertaken; and
(d) the form and content of the report; and
(e) the period within which the report must be given to the Regulator.
(4) A person contravenes this subsection if the person is subject to a requirement under subsection (2) and the person fails to comply with the requirement.
(5) A person commits an offence of strict liability if the person contravenes subsection (4).
Note: For strict liability, see section 6.1 of the Criminal Code .
(6) A person is liable to a civil penalty if the person contravenes subsection (4).
Civil penalty: 30 penalty units.
(7) A notice under subsection (2) is not a legislative instrument.