117Scheme Administrator may require surrender of certificates

#### 117 Scheme Administrator may require surrender of certificates 117 Scheme Administrator may require surrender of certificates > > (1) The Scheme Administrator may, by written order to a person, require the person to surrender to the Scheme Administrator, within a period specified in the order, the number of certificates specified in the order. > > > (2) An order may be made against a person only if the Scheme Administrator is satisfied, on the balance of probabilities, that the person is guilty of— > > > > > (a) an offence under clause 108 involving the improper creation of certificates, or > > > > > (b) an offence under clause 114(2) of contravening a condition of the person’s accreditation as a certificate provider. > > > (3) The number of certificates required to be surrendered by an order is— > > > > > (a) for an order made under subclause (2)(a)—the number of certificates that is no more than the number of certificates that, in the opinion of the Scheme Administrator, were improperly created, and > > > > > (b) for an order made under subclause (2)(b)—the number determined by the Scheme Administrator in accordance with the regulations. > > > (4) A person must not fail to comply with an order. > > > > Maximum penalty (subclause (4))—1,000 penalty units, and an additional 1 penalty unit for each certificate the person fails to surrender in accordance with the order. > > > (5) The value of a certificate surrendered for the purposes of compliance with an order cannot be counted towards meeting a scheme participant’s individual certificate target or remedying a carried forward shortfall. > > > (6) If a person fails to comply with an order, the Scheme Administrator may cancel a certificate in relation to which the person is registered as the owner. > > > (7) To avoid doubt, it is not an excuse for a failure to comply with an order that the person who is the subject of the order does not, at the time the order is made, hold a sufficient number of certificates to comply with the order. > > > (8) Regulations may be made in relation to the orders made by the Scheme Administrator under this clause.