s 123ZZB Power of Authority to issue written directions
123ZZB.—(1) The Authority may, if it thinks it necessary or expedient, in the interests of a class, or classes, of users of a designated benchmark, or in the interests of the public or a section of the public, issue written directions, either of a general or specific nature, to any of the following persons or class of persons, requiring such person or class of persons to comply with such requirements as the Authority may specify in the written directions:(a) an authorised benchmark administrator; (b) an exempt benchmark administrator; (c) an authorised benchmark submitter; (d) an exempt benchmark submitter; (e) a designated benchmark submitter; (f) a representative of any authorised benchmark administrator, exempt benchmark administrator, authorised benchmark submitter, exempt benchmark submitter or designated benchmark submitter; (g) a class of any of the persons mentioned in paragraphs (a) to (f).[4/2017] (2) Without limiting subsection (1), any written direction may be issued with respect to —(a) the standards to be maintained by the person concerned in carrying out the activity of administering a designated benchmark, or the activity of providing information in relation to a designated benchmark; (b) the type and frequency of submission of financial returns and other information to be submitted to the Authority; and (c) the qualifications, experience and training of representatives, and the person to whom such direction is issued must comply with the direction. [4/2017] (3) Any person who contravenes any of the directions issued under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine of $5,000 for every day or part of a day during which the offence continues after conviction.[4/2017] (4) It is not necessary to publish any direction issued under subsection (1) in the Gazette.[4/2017]