add a further element to the definition of based ‘offence on’; define 7.7A civil penalty ‘Part provision’; define in relation to infringement notices; ‘payment period’, define and ‘relinquishment order’; to an infringement Define ‘subject notice’. [Schedule 1, items 1 to 8, definitions in section 9 of the Corporations Act] Definitions have been inserted into subsections 5(1) and 12BA(1) of the ASIC Act to: define ‘contravention’ define penalty ‘civil provision’; make a consequential amendment to the definition of ‘infringement notice’ repeal the definitions of notice compliance ‘infringement and notice and period’ ‘infringement provision’; define pecuniary penalty ‘payment period’, order’, and to an infringement ‘relinquishment order’, ‘subject notice’. [Schedule 2, items 1 to 9, subsections 5(1) and 12BA(1) of the ASIC Act] Definitions have been inserted into subsection 5(1) of the Credit Act to: define ‘annual turnover’; amend the definition of and ‘contravention’; define fine ‘individual formula’, ‘infringement notice’, and to an ‘payment period’, ‘relinquishment order’, ‘subject infringement notice’. [Schedule 3, items 1 to 3, subsection 5(1) of the Credit Act] Definitions have been inserted into the Insurance Contracts Act to define: ‘annual turnover’; penalty ‘civil provision’; ‘contravention’; ‘infringement notice’; ‘involved’; ‘payment period’;
add a further element to the definition of ‘offence based on’; define ‘Part 7.7A civil penalty provision’; define ‘payment period’, in relation to infringement notices; define ‘relinquishment order’; and Define ‘subject to an infringement notice’. [Schedule 1, items 1 to 8, definitions in section 9 of the Corporations Act] Definitions have been inserted into subsections 5(1) and 12BA(1) of the ASIC Act to: define ‘contravention’ define ‘civil penalty provision’; make a consequential amendment to the definition of ‘infringement notice’ repeal the definitions of ‘infringement notice compliance period’ and ‘infringement notice provision’; and define ‘payment period’, pecuniary penalty order’, ‘relinquishment order’, and ‘subject to an infringement notice’. [Schedule 2, items 1 to 9, subsections 5(1) and 12BA(1) of the ASIC Act] Definitions have been inserted into subsection 5(1) of the Credit Act to: define ‘annual turnover’; amend the definition of ‘contravention’; and define ‘individual fine formula’, ‘infringement notice’, ‘payment period’, ‘relinquishment order’, and ‘subject to an infringement notice’. [Schedule 3, items 1 to 3, subsection 5(1) of the Credit Act] Definitions have been inserted into the Insurance Contracts Act to define: ‘annual turnover’; ‘civil penalty provision’; ‘contravention’; ‘infringement notice’; ‘involved’; ‘payment period’;
T328482_Explanatory_Materials.docx