Enforcement of obligation in section 54A(2)
54B Enforcement of obligation in section 54A(2)
If, in the opinion of the Authority, a corporation fails to comply with the obligation in section 54A(2), the Authority may, subject to subsection (2), do one or more of the following —
serve a letter of reprimand on the corporation; or
order the corporation to pay a monetary penalty fixed by the Authority but not exceeding $100 000.
The Authority is not to take action under subsection (1)(b) unless the Authority has —
notified the corporation of the proposed action and the reasons for it; and
given the corporation a reasonable opportunity to make submissions on the matter.
The Authority may recover a penalty imposed under subsection (1)(b) in a court of competent jurisdiction as a debt due by the corporation to the State.
[Section 54B inserted: No. 18 of 2005 s. 139.]
[55, 56. Deleted: No. 18 of 2005 s. 139.]
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.