80‑5 Commissioner may issue formal warni80‑5 Commissioner may issue formal warning

#### 80‑5 Commissioner may issue formal warning (1) Subsection (2) applies if: (a) a registered entity is a federally regulated entity and the Commissioner reasonably believes that: (i) the registered entity has contravened a provision of this Act; or (ii) it is more likely than not that the registered entity will contravene a provision of this Act; or (b) a registered entity is a federally regulated entity and the Commissioner reasonably believes that: (i) the registered entity has not complied with a governance standard; or (ii) it is more likely than not that the registered entity will not comply with a governance standard; or (c) the Commissioner reasonably believes that: (i) a registered entity has not complied with an external conduct standard; or (ii) it is more likely than not that a registered entity will not comply with an external conduct standard. (2) The Commissioner may, by written notice given to the registered entity: (a) inform the registered entity of the circumstances in relation to the contravention, likely contravention, non‑compliance or likely non‑compliance; and (b) warn the registered entity of the action that may be taken under this Act in response to the contravention, likely contravention, non‑compliance or likely non‑compliance. > Note: Information relating to warnings may be placed on the Register in accordance with Division 40. (3) In deciding whether to give a warning, and deciding the content of the warning, the Commissioner must take account of the matters mentioned in subsection 35‑10(2).