s 293 Authority may issue directions
293.—(1) The Authority may, where it thinks it necessary or expedient in the interests of the public or a section of the public or for the protection of investors, issue directions by written notice either of a general or specific nature to —(a) where a collective investment scheme is constituted as a corporation, VCC or sub‑fund of a VCC, the corporation or VCC, as the case may be; (b) the manager, trustee, custodian or representative for a collective investment scheme; or (c) any class of such persons referred to in paragraph (a) or (b).[34/2012; 44/2018] (2) Any person to whom a notice is given under subsection (1) must comply with such direction as may be contained in the notice. (3) It is not necessary to publish any direction issued under subsection (1) in the Gazette.[34/2012] (4) Any person who contravenes any of the directions issued to the person 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 not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.