(1) Subject to subsection (2), if the Director believes on reasonable grounds that a relevant director has engaged in conduct (in this section referred to as the 'relevant conduct') giving rise (whether in whole or in part) to a relevant contravention referred to in section 936A(1), the Director and the relevant director may, at their absolute discretion, enter into an agreement (in this section referred to as a 'section 957E agreement') to resolve the matters relating to such conduct.
(2) The following provisions shall apply to the section 957E agreement:
(a) the agreement may be entered into notwithstanding that no investigation under Part 13 into the relevant conduct has been commenced;
(b) the agreement may be entered into after an investigation under Part 13 into the relevant conduct has been commenced but not, subject to paragraph (d), after it has been completed;
(c) without prejudice to the generality of the terms of the agreement, such terms may include terms under which