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 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 9 - Registers relating to financial services  

Subdivision B - Notice requirements relating to the Register of Relevant Providers  

SECTION 922M   FAILING TO COMPLY WITH OBLIGATION TO NOTIFY ASIC  


Failing to comply with obligation to notify ASIC

922M(1)    
A person contravenes this subsection if:

(a)    

the person is required to cause a notice to be lodged under a provision referred to in subsection 922L(1) ; and

(b)    the person fails to cause the notice to be lodged in accordance with that provision.


922M(2)    
However, subsection (1) does not apply if:

(a)    the person fails to cause the notice to be lodged in accordance with section 922D ; and

(b)    the only reason the person fails to cause the notice to be lodged in accordance with that section is because the information referred to in paragraph 922F(1)(h) , (l) or (m) is not included in the notice; and

(c)    subsection 922F(3) provides that the notice does not need to include that information.

Note: In criminal proceedings, a defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code ).



Fault-based offence

922M(3)    
A person commits an offence if the person contravenes subsection (1) .

922M(4)    
Subsection 4K(2) of the Crimes Act 1914 does not apply to subsection (1) of this section.

Note: A person may commit an offence or contravene a civil penalty provision if the person gives false or misleading information (see section 1308 of this Act and section 137.1 of the Criminal Code ).



Civil liability

922M(5)    
A person contravenes this subsection if the person contravenes subsection (1) .

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



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