74ESC may require surrender of certificates following improper creation of certificates

74 ESC may require surrender of certificates following improper creation of certificates

(1) The ESC, by order in writing to a person, may require the person to surrender to the ESC, within a period specified in the order, a number of certificates specified in the order.

(2) An order may be made against a person under this section only if the person is found guilty of an offence against section 38.

(3) If an order is made against a person found guilty of an offence under section 38, the ESC is to require the surrender of a number of certificates that is equivalent to the number of certificates that were created by the person in contravention of section 38 and registered under this Act.

(4) A certificate surrendered under this section is not to be counted toward a person's compliance with section 61.

(5) A person must not fail to comply with an order under this section.

1. 600 penalty units and an additional 1 penalty unit for each certificate that the person fails to surrender in accordance with the order.

(6) To avoid doubt, it is not an excuse for a failure to comply with an order under this section that the person who is the subject of the order is not, at the time the order is made, the registered owner of a sufficient number of certificates to comply with the order.