Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) Regulations 7.8.05C to 7.8.05Q do not require ASIC to give a client money reporting infringement notice to a person in relation to an alleged contravention of a client money reporting rule.
(2) Regulations 7.8.05C to 7.8.05Q do not affect the liability of a person to civil proceedings if ASIC does not give a client money reporting infringement notice to the person in relation to an alleged contravention of a client money reporting rule.
(3) Regulations 7.8.05C to 7.8.05Q do not affect the liability of a person to civil proceedings if:
(a) ASIC gives a client money reporting infringement notice to the person in relation to an alleged contravention of a client money reporting rule; and
(b) either:
(i) the infringement notice is withdrawn; or
(ii) the person does not comply with the infringement notice in accordance with regulation 7.8.05H.
(4) Regulations 7.8.05C to 7.8.05Q do not limit or otherwise affect the penalty that a C ourt could impose on the person for a contravention of a client money reporting rule.