60‑125 Outcomes of investigations60‑125 Outcomes of investigations

#### 60‑125 Outcomes of investigations Investigation relating to application for registration (1) After completing an investigation in relation to an application for registration under section 20‑20, the Board must make a decision in accordance with section 20‑25. Investigation relating to whether conduct breaches this Act (2) If the Board investigates conduct under section 60‑95 and finds that the conduct breaches this Act, the Board must either: (a) make a decision that no further action will be taken; or (b) do one or more of the following: (i) impose one or more sanctions under Subdivision 30‑B; (ii) terminate an entity’s registration under Subdivision 40‑A; (iii) apply to the \*Federal Court for an order for payment of a pecuniary penalty under Subdivision 50‑C; (iv) apply to the Federal Court for an injunction under section 70‑5; (v) decide that the entity (the contravening entity) that engaged in the conduct, and the information in respect of the contravening entity prescribed by the regulations for the purposes of this subparagraph, be entered on the register for the period prescribed by the regulations for the purposes of this subparagraph. > Note 1: The Board may terminate an entity’s registration under Subdivision 40‑A without investigating conduct under section 60‑95. > Note 2: In this section, register means the register kept under section 60‑135 (see subsection (10) of this section). (2A) If the Board makes a decision in relation to the contravening entity under subparagraph (2)(b)(v), then the contravening entity, and the information in respect of the contravening entity mentioned in that subparagraph, must be entered on the register for the period mentioned in that subparagraph. Period within which a decision must be made (3) The Board must make a decision under subsection (2): (a) within 24 months after the day on which the investigation is taken to have commenced under subsection 60‑95(3); or (b) if a longer period is determined by the Board under subsection (4)—within that period. (4) If the Board is satisfied that, for reasons beyond the control of the Board, a decision under subsection (2) cannot be made within the period mentioned in paragraph (3)(a), the Board may determine a longer period within which the Board must make a decision under subsection (2). (5) If the Board determines a longer period, the Board must do so not later than 2 weeks before the expiry of the period mentioned in paragraph (3)(a). (6) The reasons mentioned in subsection (4) include, but are not limited to, the following: (a) undue delay that has been caused by an entity other than the Board and that has affected the conduct of the investigation to which the decision relates; (b) the complexity of the investigation. Decision not made (7) If: (a) a decision is not made within the period mentioned in paragraph (3)(a) and the Board does not determine a longer period; or (b) the Board determines a longer period but does not make a decision within that period; the Board is taken to have decided to take no further action in relation to the matter that was the subject of investigation. Notification of decisions (8) If: (a) the Board makes a decision under subsection (2); or (b) the Board investigates conduct under section 60‑95 and finds that the conduct does not breach this Act; the Board must, within 30 days of making the decision or finding: (c) notify the following persons, in writing, of the decision or finding: (i) the entity affected by the decision or finding; (ii) the complainant (if any); (iia) any professional association accredited by the Board under the regulations of which the entity is a member; (iii) if the decision or finding is relevant to the administration of the \*taxation laws (other than this Act)—the Commissioner; (iv) if the decision or finding concerns a \*registered tax agent in relation to providing a \*tax (financial) advice service—\*ASIC; and (d) give, in writing, the reasons for the decision to: (i) the entity affected by the decision; and (ia) if subparagraph (c)(iia) applies—the relevant professional association; and (ii) if subparagraph (c)(iii) applies—the Commissioner; and (iii) if subparagraph (c)(iv) applies—\*ASIC. (9) If the Board determines a longer period under subsection (4), the Board must, within 30 days of making the determination: (a) notify the entity affected by the determination, in writing, of the determination; and (b) give, in writing, the reasons for the determination. Definitions (10) In this section, register means the register kept under section 60‑135.