Document ID: chunk:federal_register_of_legislation:C2018A00027:clause:1_908bq
Version: federal_register_of_legislation:C2018A00027
Segment Type: clause
Provision Reference: sch 1 cl 908BQ
Character Range: 23097–24306

908BQ  Obligation to notify ASIC of certain matters
 (1) A person commits an offence if:
 (a) the person is a benchmark administrator licensee; and
 (b) the licensee becomes aware of any of the following events:
 (i) that the licensee may no longer be able to comply with an obligation under section 908BP;
 (ii) that the licensee has failed to comply with an obligation under section 908BP;
 (iii) that a person becomes or ceases to be a director, secretary or senior manager of the licensee;
 (iv) that a person becomes or ceases to be a director, secretary or senior manager of a holding company of the licensee; and
 (c) the licensee fails to give written notice to ASIC of:
 (i) the event; and
 (ii) such related information (if any) as is prescribed by the regulations for the purposes of this subparagraph;
  as soon as practicable after becoming aware of the event.
Penalty: 100 penalty units.
 (2) Without limiting subparagraph (1)(b)(iii) or (iv), that subparagraph applies to the case where a person:
 (a) changes from one of the positions mentioned in that subparagraph to another; or
 (b) changes from a position mentioned in that subparagraph to a position mentioned in the other subparagraph.