When you look at what an undertaking can include, you find it can have some specific parts. An undertaking is like a promise that a deposit taker or person makes to do something. You might promise to pay compensation to someone or take action to fix a problem.

You might have to take action to address the cause of a contravention, which is when someone breaks a rule, or to remedy or mitigate the consequences of that contravention. This means you have to try to fix what went wrong or make it less bad. You might also have to pay an amount to the Bank instead of getting a fine.