Section 1317DAR — Corporations Act 2001: Extension of time to pay amount

(1) A person to whom an infringement notice has been given may, during the payment period for the notice, apply to ASIC for an extension of the payment period for the notice. (2) ASIC may, in writing, extend the payment period for an infringement notice: (a) if a person makes an application in accordance with subsection (1); or (b) on ASIC’s own initiative. ASIC may do so before or after the end of the payment period. (3) ASIC must do each of the following within 14 days after an application in accordance with subsection (1) is made: (a) grant or refuse to grant an extension of the payment period for the infringement notice; (b) give the applicant notice in writing of ASIC’s decision. (4) If ASIC does not comply with subsection (3): (a) ASIC is taken to have refused to grant an extension of the payment period for the infringement notice; and (b) the refusal is taken to have occurred on the last day of the 14 day period. (5) ASIC may extend the payment period more than once under subsection (2).