Corporations Regulations 2001

Before giving a recipient an infringement notice, ASIC must:

give the recipient a written statement that sets out ASIC’s reasons for believing that the recipient has contravened a rule; and

give the recipient, or a representative of the recipient, an opportunity to:

appear at a private hearing before ASIC; and

give evidence to ASIC; and

make submissions to ASIC;

If a recipient, or a representative of a recipient, gives ASIC evidence or information under paragraph (1)(b), the evidence or information is not admissible in evidence in any proceedings against the recipient, other than proceedings relating to the evidence or information being false or misleading.