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 7.4 - LIMITS ON INVOLVEMENT WITH LICENSEES  

Division 3 - Miscellaneous  

SECTION 854A   RECORD-KEEPING AND GIVING OF INFORMATION  

854A(1)    
The regulations may make provision for and in relation to requiring a person:

(a) to keep and retain records that are relevant to whether a person has voting power in a widely held market body and, if so, how much; and

(b) to keep and retain records that are relevant to determining whether any disqualified individual is involved in a market licensee, a CS facility licensee or a derivative trade repository licensee; and

(c) to give the Minister or ASIC information that is relevant to the matters mentioned in paragraphs (a) and (b); and

(d) to give a widely held market body information that is relevant to the matter mentioned in paragraph (a).

854A(2)    
The regulations may provide that information given in accordance with a requirement covered by paragraph (1)(c) or (d) must be verified by statutory declaration.

854A(3)    
However, an individual is not required to give information in accordance with a requirement covered by paragraph (1)(c) or (d) if the information might tend to incriminate the individual or expose the individual to a penalty.

854A(4)    
A person contravenes this section if:

(a) the person makes or keeps a record in compliance, or purported compliance, with a requirement covered by subsection (1); and

(b) the person does so knowing that the record:

(i) is false or misleading; or

(ii) omits any matter or thing without which the record is misleading.

Note: A contravention of this subsection is an offence (see subsection 1311(1) ).

854A(5)    
Regulations made for the purposes of this section may make provision for or in relation to a matter by conferring a power on the Minister.