20Powers of regulator—action plans

20 Powers of regulator—action plans

20 Powers of regulator—action plans

(1) The regulator may, by written notice to a person who lodged an action plan with the regulator, do the following—

(a) vary or revoke conditions imposed on an approved action plan, including at the request of the person,

(b) impose further conditions on an approved action plan,

(c) withdraw approval of an approved action plan,

(d) direct the person to do one or more of the following within the period specified in the notice—

(i) give further information in relation to an approved action plan,

(ii) review, update or amend an approved action plan and lodge the revised or amended action plan,

(iii) prepare and lodge an action plan in accordance with section 15 or 16, as the case requires, whether or not the person has an approved action plan,

(iv) arrange an independent audit of an action plan or approved action plan to be carried out by an auditor, including an auditor specified or approved by the regulator,

(v) give the auditor’s report to the regulator.

(2) A person must comply with a direction of the regulator given in accordance with this part.

Maximum penalty for subsection (2)—

(a) for an individual—1,000 penalty units and, for a continuing offence, a further 100 penalty units for each day the offence continues, or

(b) otherwise—4,000 penalty units and, for a continuing offence, a further 400 penalty units for each day the offence continues.