8Enforcement of Act and licences by the Minister

8 Enforcement of Act and licences by the Minister

8 Enforcement of Act and licences by the Minister

(1) If the Minister is satisfied that the holder of a licence has contravened a requirement of this Act, the regulations or the conditions of the licence, the Minister may do any one or more of the following things—

(a) notify the licensee of the contravention and direct the licensee to take specified action, within a period specified in the notice, to remedy or mitigate the consequences of the contravention or to prevent the continuance or recurrence of the contravention,

(b) if the Minister is satisfied that the licensee knowingly contravened the requirement—impose on the licensee a monetary penalty not exceeding $550,000 for the first day on which the contravention occurs and a further $2,000 for each subsequent day, not exceeding 30 days, on which the contravention continues,

(c) if the Minister is satisfied that a person who is a director of, or concerned in the management of, the licensee knowingly authorised or permitted the contravention—impose on the person a monetary penalty not exceeding $100,000 for the first day on which the contravention occurs and a further $2,000 for each subsequent day, not exceeding 30 days, on which the contravention continues,

(d) cancel the licence.

(2) The holder of a licence must comply with a direction of the Minister under this clause.

Maximum penalty—

(a) for a corporation—18,000 penalty units, or

(b) otherwise—3,500 penalty units.

(3) Nothing in this clause prevents a licence from being cancelled at the request of the licensee.

(4) The Minister must not take action under this clause unless the Minister—

(a) has considered whether the contravention has been or is likely to be the subject of another penalty or action or any claim for compensation, and

(b) is satisfied that it is nevertheless appropriate to take action under this clause.