28DCommission may take disciplinary action against corporate associate

28D Commission may take disciplinary action against corporate associate

(1) If the Commission considers that there is a ground for taking disciplinary action in relation to a corporate associate, the Commission may give the corporate associate written notice giving the corporate associate an opportunity to show cause within 14 days why disciplinary action should not be taken on the specified ground in the notice.

(2) The corporate associate, within the period allowed by the notice, may arrange with the Commission for the making of submissions to the Commission as to why disciplinary action should not be taken.

(3) After considering any submissions made under subsection (2), the Commission may take either or both of the following disciplinary actions—

(a) issue a letter of censure to the corporate associate;

(b) fine the corporate associate an amount not exceeding $1 000 000.

(4) A letter of censure may censure the corporate associate in respect of any matter relating to a ground for disciplinary action and may include a direction to the corporate associate to rectify within a specified time any matter giving rise to the letter of censure.

(5) If a direction given under subsection (4) is not complied with within the specified time, the Commission, by giving written notice to the corporate associate, may fine the corporate associate an amount not exceeding $1 000 000 without affording the corporate associate a further opportunity to be heard.

(6) The Commission may fine the corporate associate under subsection (5) whether or not the Commission has already fined the corporate associate under subsection (3)(b) in relation to the same matter.

(7) A fine imposed under this section may be recovered in a court of competent jurisdiction as a debt due to the State.

(8) A member of the Commission who has participated in consideration of disciplinary action under this section is not prevented by that reason alone from considering whether further disciplinary action should be taken.

Division 2—Contracts