The enforceable undertakings register lists enforceable undertakings accepted by ASIC under either ss93AA or 93A of the Australian Securities and Investments Commission Act 2001. For our policy on enforceable undertakings see Regulatory Guide 100, Enforceable undertakings.
Enforceable undertakings are undertakings given to us (and accepted by us) which are enforceable in a court. They are generally accepted by us as an alternative to civil or administrative action where there has been a contravention of the legislation we administer.
We may accept an undertaking either:
in connection with a matter in relation to which we have a function or power under the Australian Securities and Investments Commission (ASIC Act) (s93AA), or
if given by a responsible entity of a registered scheme in connection with a matter concerning the registered scheme, and in relation to which we have a function or power under a national scheme law (s93A) .
ASIC has published four enforceable undertaking templates to assist people drafting undertakings. These templates are for guidance only, as the terms of an enforceable undertaking should always be tailored to fit the circumstances of the individual case.