Representations seeking withdrawal of notice
(1) A person to whom an infringement notice has been given by a Financial Services and Credit Panel may, within 28 days after the infringement notice is given, make written representations to ASIC seeking the withdrawal of the notice.
Withdrawal of notice
(2) ASIC may request a Financial Services and Credit Panel (whether or not the panel gave the infringement notice to the person) to make a decision under subsection (3) in relation to the infringement notice if:
(a) a person makes representations in relation to the notice under subsection (1); or
(b) ASIC is satisfied that there has been a change in any of the circumstances on the basis of which the notice was given to the person.
(3) If ASIC makes a request under subsection (2), the panel must, within 14 days after it is made:
(a) decide to withdraw, or refuse to withdraw, the infringement notice; and
(b) give the person a written notice of its decision.
(4) When deciding whether to withdraw, or refuse to withdraw, the infringement notice, the panel:
(a) must take into account any written representations seeking the withdrawal that were given by the person to ASIC in accordance with subsection (1); and
(b) may take into account the following:
(i) whether a court has previously imposed a penalty on the person for a contravention of a provision of this Act;
(ii) the circumstances of the alleged contravention of the restricted civil penalty provision to which the notice relates;
(iii) whether the person has paid an amount, stated in an earlier infringement notice, for a contravention of a provision of this Act;
(iv) any other matter the panel considers relevant.
(5) If the panel does not comply with subsection (3):
(a) the panel is taken to have refused to withdraw the infringement notice; and
(b) the refusal is taken to have occurred on the last day of the 14 day period.
Refund of amount if infringement notice withdrawn
(6) If:
(a) the panel withdraws the infringement notice; and
(b) the person has already paid all or part of the amount stated in the notice;
ASIC must refund to the person an amount equal to the amount paid.