ENFORCEMENT AND COMPLAINTS

  1. The Panel has powers to issue compliance notices where a party entered into an affected transaction or offer without complying with the requirements of the Act.
  2. Failure to comply with a compliance notice issued may result in a regulated company being fined up to 10% of annual turnover by a Court on application by the  Panel and may constitute a criminal offence. On prosecution and conviction a Court may order imprisonment for a period of up to 12 months.
  3. Other offences include: providing false information, improperly influencing the Panel or anticipating the findings of the Panel.
  4. Any person with an interest in an affected transactions or offer may lodge a complaint with the Panel against the transaction whereupon the Panel in its discretion may investigate the complaint,and issue a compliance notice where necessary.
  5. The Panel may also issue a compliance certificate if it is satisfied that the transaction has met the requirements set in the Act.