Document ID: chunk:federal_register_of_legislation:C2004C01110:clause:2_39
Version: federal_register_of_legislation:C2004C01110
Segment Type: clause
Provision Reference: sch 2 cl 39
Character Range: 41394–42136

39  After subsection 36(1)
Insert:

 (1A) An ADI is guilty of an offence if:
 (a) the Reserve Bank has made a determination under subsection (1) of a policy that applies to the ADI; and
 (b) the ADI fails to follow the policy; and
 (c) there is no order in force under section 11 determining that this subsection does not apply to the ADI.

Maximum penalty: 200 penalty units.

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 (1B) An offence against subsection (1A) is an indictable offence.