Document ID: chunk:federal_register_of_legislation:C2025C00134:section:130:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 130 (pt 2/2)
Character Range: 685755–687185

he or she had done.
Penalty: Imprisonment for 12 months.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

No civil liability for telling about a matter
 (3) A person to whom this section applies is not liable in a civil action or civil proceeding in relation to telling the Regulator, or a trustee of the entity, about a matter as required by this section.

Offences
 (4) A person commits an offence if the person contravenes subsection (2).
Penalty: 50 penalty units.
 (5) A person commits an offence if the person contravenes subsection (2). This is an offence of strict liability.
Penalty: 25 penalty units.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

When financial position is unsatisfactory
 (6) For the purposes of this section, in forming an opinion whether the financial position of an entity may be about to become unsatisfactory, a person must consider any matters prescribed by the regulations for the purposes of this subsection.
 (6A) Subsection (6) does not limit the matters that a person may consider in forming such an opinion.
 (7) For the purposes of this section, the financial position of an entity is taken to be unsatisfactory if, and only if, under the regulations, the financial position of the entity is treated as unsatisfactory.