Foreign Acquisitions and Takeovers Act 1975
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Hide history noteInformation or documents relevant to no objection notification
98B(1)
A person contravenes this subsection if: (a) the person is given a no objection notification, or is specified in a no objection notification; and (b) before the no objection notification was given, the person gave the Treasurer information that was or documents that were:
(i) relevant to the no objection notification; and
(c) the information was or the documents were false or misleading in a material particular.
(ii) relevant to one or more core Part 3 actions to which the no objection notification relates; and
98B(2)
A person who contravenes subsection (1) is liable to a civil penalty.
98B(3)
The maximum penalty for the contravention is the lesser of the following: (a) 2,500,000 penalty units; (b) the greater of the following:
(i) 5,000 penalty units (or 50,000 penalty units if the person is a corporation);
(ii) the sum of the amounts worked out under section 98F for each of the core Part 3 actions mentioned in subparagraph (1)(b)(ii) .
Information or documents relevant to exemption certificate
98B(4)
A person contravenes this subsection if: (a) an exemption certificate relates to a person; and (b) before the exemption certificate was given, the person gave the Treasurer information that was or documents that were:
(i) relevant to the exemption certificate; and
(c) the information was or the documents were false or misleading in a material particular.
(ii) relevant to one or more exempt core Part 3 actions to which the exemption certificate relates; and
98B(5)
A person who contravenes subsection (4) is liable to a civil penalty.
98B(6)
The maximum penalty for the contravention is: (a) unless paragraph (b) applies - 5,000 penalty units; or (b) if the person is a corporation - 50,000 penalty units.
Information or documents may be false or misleading by omission
98B(7)
To avoid doubt, for the purposes of this section, information or documents may be false or misleading in a material particular because of the omission of a matter or thing.
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