Foreign Acquisitions and Takeovers Act 1975

PART 7 - ADMINISTRATIVE PROVISIONS  

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History

Pt 7 heading substituted by No 114 of 2020, s 3, Sch 1[193] (effective 1 January 2021).

For application and transitional provisions by No 114 of 2020, Sch 1 items 227 to 250, see Transitional Information under this Act.

Pt 7 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

Division 2 - Record-keeping  

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History

Div 2 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

SECTION 119   OFFENCE FOR FAILING TO MAKE AND KEEP RECORDS  

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119(1)    
A person commits an offence if:

(a) the person is required to make and keep a record under this Division; and

(b) the person does not make or keep the record in accordance with this Division; and

(c) the Treasurer has not notified the person that the person does not need to make or keep the record; and

(d) the person is not a corporation that has been finally dissolved.

Penalty: 250 penalty units.

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History

S 119(1) amended by No 114 of 2020, s 3, Sch 2[43] (effective 1 January 2021).

For application and transitional provisions by No 114 of 2020, Sch 2 Pt 2, see Transitional Information under this Act.

119(2)    
Subsection (1) is an offence of strict liability.

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History

S 119 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

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