| 1) |
Subject to subsection (2), the Commission may issue a compliance notice in the prescribed form to a person or association of persons whom the Commission on reasonable grounds believes has engaged in prohibited conduct. |
| 2) |
Before issuing a notice in terms of subsection (1) to a regulated entity, the Commission must consult with the regulatory authority that issued a licence to that regulated entity. |
| 3) |
A compliance notice contemplated in subsection (1) must set out— |
| a) |
the person or association to whom the notice applies; |
| b) |
the provision of this Act that has not been complied with; |
| c) |
details of the nature and extent of the non-compliance; |
| d) |
any steps that are required to be taken and the period within which those steps must be taken; and |
| e) |
any penalty that may be imposed in terms of this Act if those steps are not taken. |
| 4) |
A compliance notice issued in terms of this section remains in force until— |
| a) |
it is set aside by the Tribunal, or a court upon a review of a Tribunal decision concerning the notice; or |
| b) |
the Commission issues a compliance certificate contemplated in subsection (5). |
| 5) |
If the requirements of a compliance notice issued in terms of subsection (1) have been satisfied, the Commission must issue a compliance certificate. |
| 6) |
If a person to whom a compliance notice has been issued fails to comply with the notice, the Commission may either— |
| a) |
apply to the Tribunal for the imposition of an administrative fine; or |
| b) |
refer the matter to the National Prosecuting Authority for prosecution as an offence in terms of section 110(2), |
but may not do both in respect of any particular compliance notice.
Transfer Duty Act, 1949
