36Requirement to apply for variation of approved standard terms

36 Requirement to apply for variation of approved standard terms

(1) The ACCC may, by notice in writing given to a designated entity, require the entity to make an application under section 37 to vary, in relation to specified matters, approved standard terms that the entity has.

(2) Without limiting the circumstances in which the ACCC may give a notice under subsection (1), the ACCC may give a notice in response to the making or amendment of an instrument under subsection 37(5).

(3) If a designated entity is required to make an application in accordance with a notice under subsection (1), the entity must make the application within 30 business days after the notice is given.

(4) On written application by the entity made before the end of the period mentioned in subsection (3), the ACCC may, in writing, extend that period if the ACCC is satisfied it is appropriate to do so.

(5) The period may be extended more than once.

Civil penalty provision

(6) A designated entity is liable to a civil penalty if:

(a) the entity is required to make an application in accordance with a notice under subsection (1); and

(b) the entity fails to do so within the period required by subsection (3) (as affected by any extension under subsection (4)).

Note 1: An individual may be liable for an ancillary contravention of this civil penalty provision (see section 92 of the Regulatory Powers Act).

Note 2: This subsection is a continuing civil penalty provision under section 93 of the Regulatory Powers Act.

Civil penalty:

(a) for a body corporate—300 penalty units; and

(b) for an individual—60 penalty units.