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In force2020 Revised Edition

Part 9 · Regulation of Collective Management Organisations

463. Financial penalty for non‑compliance with class licence conditions

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(1)

If IPOS finds that a licensed CMO has contravened any of its class licence conditions, IPOS may, by written notice, impose —

(a)

a financial penalty not exceeding $20,000 on the CMO; and

(b)

a financial penalty not exceeding $20,000 on each officer of the CMO that IPOS considers to be responsible for the contravention.

(2)

Before imposing a financial penalty on a person under subsection (1), IPOS must give the person an opportunity to make representations in accordance with the prescribed procedure.

(3)

A financial penalty imposed under subsection (1) is recoverable as a fine.

(4)

Financial penalties collected under subsection (1) must be paid into the Consolidated Fund.

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