Document ID: chunk:federal_register_of_legislation:C2004A05055:schedule:2:p14
Version: federal_register_of_legislation:C2004A05055
Segment Type: schedule
Provision Reference: sch 2 (pt 14/15)
Character Range: 38159–41067

of its enforcement of the liability or obligation.

60 After section 172

  Insert:

172A Disclosure of interests

      (1) The Commercial Development Corporation General Manager must give written notice to the Minister and the Chairperson of the Commercial Development Corporation Board of all direct or indirect pecuniary interests that the General Manager has or acquires in any business or in any body corporate that carries on a business.

      (2) If the Commercial Development Corporation General Manager has a direct or indirect pecuniary interest in a matter being considered or about to be considered by the Commercial Development Corporation Board, the General Manager must, as soon as possible after becoming aware of the relevant facts, disclose the nature of the interest to the Chairperson of the Board in writing.

61 Subsection 191(2) (penalty)

  Repeal the penalty, substitute:

Penalty: 50 penalty units.

62 After section 191S

  Insert:

191SA Indigenous Land Corporation's interest in land

(1) Any liability or obligation of a body corporate to the Indigenous Land Corporation arising:

          (a) under the terms and conditions of a grant, loan or guarantee referred to in subsection 191D(2) or (2A) or 191E(2), (2A) or (2B); or

  (b) under section 19IS;

          is taken to be an interest of the Corporation in the land to which the liability or obligation relates.

      (2)The land is charged with the payment of all costs and expenses incurred by the Corporation in respect of its enforcement of the liability or obligation.

  191SB Interest in land of subsidiary of Indigenous Land Corporation

       (1) Any liability or obligation of a body corporate to a subsidiary of the Indigenous Land Corporation arising:

         (a) under the terms and conditions of a grant, loan or guarantee made or given by the subsidiary under an arrangement referred to in subsection 191G(1); or

(b) under section 191S;

       is taken to be an interest of the subsidiary in the land to which the liability or obligation relates.

       (2) The land is charged with the payment of all costs and expenses incurred by the subsidiary in respect of its enforcement of the liability or obligation.

63 Subsection 197(1) (penalty)

Repeal the penalty, substitute:

  Penalty: Imprisonment for 5 years or 100 penalty units.

64 Subsection 197(2) (penalty)

Repeal the penalty.

65 At the end of section 197

Add:

      (3) A person who contravenes subsection (2) is guilty of an offence punishable on conviction by imprisonment for not more than 6 months or 10 penalty units.

66 Subsections 198(1) and (2)

  Omit "$5,000", substitute "50 penalty units".

67 Subsection 198(3)

  Omit "$1,000", substitute "10 penalty units".

68 After subsection 198(3)

  Insert:

       (3A) A person must not make a statement to another person, either orally or in writing, as to the other person's