JUSTICE TO OUTSIDERS THROUGH UNDERTAKINGS
AbstractAn enforceable undertaking is a promise enforceable in court. In it, the alleged offender, known as the promisor, promises the regulator (for the purpose of this article the Australian Securities and Investments Commission) to do or not to do certain actions. The result achieved through an enforceable undertaking reflects the compromise that is reached by the parties involved. However, the alleged breach that has led to an enforceable undertaking may have affected a number of people who are not necessarily involved in the negotiation of the undertaking. Accordingly, this paper considers any impact that an enforceable undertaking may have on third parties.
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