Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:2_16b:p2
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 2 cl 16B (pt 2/2)
Character Range: 88961–90240

the subsidiary will become insolvent; or
 (b) the subsidiary has failed to comply with a requirement of this Act or the regulations; or
 (c) an existing or proposed state of affairs may materially prejudice the interests of depositors of:
 (i) if the subsidiary is a subsidiary of an ADI—the ADI; or
 (ii) if the subsidiary is a subsidiary of an authorised NOHC—any ADI that is a subsidiary of the NOHC.

Penalty: Imprisonment for 6 months.

Self‑incrimination

 (5) An individual is not excused from complying with a requirement under this section to give information on the ground that doing so would tend to incriminate the individual or make the individual liable to a penalty.

 (6) If:
 (a) before giving information in compliance with a requirement under this section, an individual claims that giving the information might tend to incriminate the individual or make the individual liable to a penalty; and
 (b) giving the information might in fact tend to incriminate the individual or make the individual so liable;
the information given in compliance with the requirement is not admissible in evidence against the individual in a criminal proceeding or a proceeding for the imposition of a penalty, other than a proceeding in respect of the falsity of the information.