Document ID: chunk:federal_register_of_legislation:C2025C00179:section:91
Version: federal_register_of_legislation:C2025C00179
Segment Type: section
Provision Reference: s 91
Character Range: 130139–131459

91  Notification of change in circumstances before or during approval period
 (1) A person contravenes this subsection if:
 (a) an application is made for approval of a change in control of a licence holder under section 86; and
 (b) the person proposes to:
 (i) begin to control the licence holder; or
 (ii) cease to control the licence holder; and
 (c) there is a change in circumstances in relation to the person that materially affects any of the matters the Registrar must have regard to under subsection 87(4); and
 (d) the change in circumstances occurs either:
 (i) before the Registrar makes a decision under subsection 87(2); or
 (ii) if the change in control is approved—during the approval period for the change in control; and
 (e) the person does not notify the Registrar of the matters in paragraph (c) as soon as practicable after the change in circumstances occurs.
Note 1: Under subsection 87(4), the Registrar must have regard to various matters when deciding whether to approve or refuse to approve a change in control of a licence holder.
Note 2:  Contravention of this subsection is also a ground for cancellation of a licence (see paragraph 73(1)(f)).

Civil penalty provision
 (2) A person is liable to a civil penalty if the person contravenes subsection (1).
Civil penalty: 480 penalty units.