Bank of Western Australia Act 1995

If the Minister believes on reasonable grounds that the Bankwest owner is contravening or has contravened a provision of Division 3, the Minister may give the Bankwest owner a notice (a contravention notice) —

specifying the provision that the Minister believes is being or has been contravened; and

containing a brief description of the contravention; and

stating that the Bankwest owner has a period of 28 days after the contravention notice is given within which to satisfy the Minister that the contravention is not occurring or has not occurred.

A contravention notice may relate to more than one contravention.

If the Bankwest owner fails to satisfy the Minister that a contravention specified in a contravention notice is not occurring or has not occurred, the Minister may give the Bankwest owner a further notice (a penalty notice) —

specifying the contravention to which it relates; and

stating that the Bankwest owner is liable to pay to the Minister an amount in respect of the contravention; and

fixing the amount that the Bankwest owner is liable to pay in respect of the contravention at $2 million; and

requiring the Bankwest owner to pay the amount to the Minister within 14 days after the penalty notice is given.

A penalty notice may relate to more than one contravention and, if it does, the references in subsection (3)(b) and (c) to the contravention are to be read as references to each contravention.

If the Bankwest owner fails to comply with the penalty notice, the Minister may lodge a certified copy of it in the Supreme Court.

When lodged, the penalty notice is to be taken to be a judgment of the Supreme Court for a debt payable by the Bankwest owner to the Minister of an amount equal to the aggregate amount fixed in the penalty notice, and may be enforced accordingly.

An amount paid to, or recovered by, the Minister under this section is to be credited to the Consolidated Account.