Document ID: chunk:federal_register_of_legislation:C2024C00639:section:72
Version: federal_register_of_legislation:C2024C00639
Segment Type: section
Provision Reference: s 72
Character Range: 113143–114161

72  Administrator of accredited voluntary arrangement must notify the Minister of certain events
 (1) The administrator of an accredited voluntary arrangement must notify the Minister, in writing, as soon as practicable after any of the following events occurs:
 (a) there is a change to who the administrator of the arrangement is;
 (b) an event that may affect whether the administrator is a fit and proper person;
 (c) an event that hinders the ability of the arrangement to achieve its outcomes;
 (d) an event prescribed by the rules.
 (2) A person contravenes this subsection if:
 (a) the person is required by subsection (1) to notify the Minister of an event; and
 (b) the person fails to comply with the requirement.

Strict liability offence
 (3) A person commits an offence of strict liability if the person contravenes subsection (2).
Penalty: 60 penalty units.

Civil penalty provision
 (4) A person is liable to a civil penalty if the person contravenes subsection (2).
Civil penalty: 250 penalty units.