Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3A - CS SERVICES  

Division 2 - Regulation of CS services: CS services rules  

Subdivision B - Compliance with CS services rules  

SECTION 828D   OBLIGATION TO NOTIFY ASIC IN RESPECT OF BREACH  

828D(1)    
A person must give written notice to ASIC, as soon as practicable, if the person becomes aware that the person may no longer be able to meet, or has breached, an obligation under section 828C .

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

828D(2)    
A person contravenes this subsection if the person contravenes subsection (1) .

Note: This subsection is a civil penalty provision (see section 1317E ).

828D(3)    
If ASIC receives a notice under subsection (1) , ASIC may give the Minister advice about the matter to which the notice relates.