Co-operatives National Law (NSW)

The Registrar may accept a written undertaking given by a person in connection with a matter relating to a contravention of this Law or where the Registrar has reasonable grounds to believe there may be a contravention of this Law.

Without limiting subsection (1), the Registrar may accept a written undertaking given by the person that the person will do either or both of the following—

refrain from conduct that constitutes a contravention of this Law;

take action to prevent or remedy a contravention of this Law.

The person may withdraw or vary an undertaking at any time, if the person has first obtained the consent of the Registrar.

The consent of the Registrar is required for the purposes of subsection (3) even if the undertaking purports to authorise a withdrawal or variation of the undertaking without that consent.

If the Registrar accepts an undertaking given by a person, the Registrar must not proceed against the person in respect of the conduct specified in the undertaking, unless it appears to the Registrar that the person has contravened the undertaking.

Subsection (5) does not apply to an application by the Registrar for an order under section 545.