Section 58FZM — Competition and Consumer Act 2010: Remedial directions

Giving directions—to comply with an SPF principle (1) If the SPF general regulator reasonably suspects that a regulated entity: (a) is failing to comply with an SPF principle; or (b) will fail to comply with an SPF principle; the SPF general regulator may, by written notice given to the entity, direct the entity to take specified action to comply with that SPF principle. Giving directions—to comply with an SPF code (2) If the SPF sector regulator for a regulated sector reasonably suspects that a regulated entity for the sector: (a) is failing to comply with a provision of the SPF code for the sector; or (b) will fail to comply with such a provision; the SPF sector regulator may, by written notice given to the entity, direct the entity to take specified action to comply with that provision of the SPF code. Complying with a direction (3) A regulated entity given a direction under subsection (1) or (2) must comply with the direction. (a) within the time specified in the direction, which must be a reasonable time; or (b) if the direction does not specify a reasonable time—within a reasonable time. (4) Subsection (3) is a civil penalty provision. Note: To work out how sections 58FJ to 58FL (about civil penalties) apply to subsection (3), see the definitions of civil penalty provision of an SPF principle, and civil penalty provision of an SPF code in subsection 4(1). Extending the time for complying with a direction (5) The SPF regulator who gives a direction under subsection (1) or (2) to an entity may extend the time for complying with the direction by written notice given to the entity. Before giving a direction (6) Before an SPF regulator gives an entity a direction under subsection (1) or (2), the SPF regulator must give the entity an opportunity to make submissions to the SPF regulator on the matter. Varying and revoking directions (7) An SPF regulator may vary or revoke a direction given by the SPF regulator under subsection (1) or (2) in like manner and subject to like conditions. Publishing directions (8) As soon as practicable after an SPF regulator gives, varies or revokes a direction under subsection (1) or (2), the SPF regulator must publish a notice of its action on its website.