Document ID: chunk:federal_register_of_legislation:C2004A03064:body:0:p5
Version: federal_register_of_legislation:C2004A03064
Segment Type: other
Provision Reference: 
Character Range: 10041–12697

who contravenes or fails to comply with an order under this section that is applicable to the person is guilty of an offence punishable, on conviction, by a fine not exceeding—
       (a) if the offender is a natural person—$5,000; or
       (b) if the offender is a body corporate—$25,000."; and
       (d) by omitting sub-section (9) and substituting the following sub-section:
    "(9) In this section, Territory' means the Australian Capital Territory or the Northern Territory.".

Defence to prosecutions
9. Section 13 of the Principal Act is amended by omitting from sub-section (1) "sub-section (1), (2) or (3) of section 10 of this Act" and substituting "sub-section 10 (12)".

Repeal of section 15
10. Section 15 of the Principal Act is repealed.

Formal amendments
11. The Principal Act is amended as set out in the Schedule.

Transitional
12. (1) An instrument that was in force under sub-section 10 (4) of the Principal Act (whether or not that instrument had been varied under sub-section 10 (5) of that Act) immediately before the commencement of this Act shall, after that commencement—
     (a) in a case where the instrument fixed a percentage of not more than 15—have effect as if it were an exemption granted under sub-section 10 (2) of the Principal Act as amended by this Act; or
     (b) in a case where the instrument fixed a percentage exceeding 15—continue in force as if it had been published under sub-section 10 (4) of the Principal Act as amended by this Act.
(2) Where—
     (a) the Principal Act as amended by this Act applies in relation to a corporation within the meaning of that Act as so amended by reason of the amendment made by section 3 of this Act; and
     (b) immediately after the commencement of this Act, the corporation has an interest in one or more voting shares of a bank and the nominal amount of that share or the aggregate of the nominal amounts of those shares exceeds 15% of the aggregate of the nominal amounts of all the voting shares of the bank,
the Governor-General shall be deemed to have published an instrument under sub-section 10 (4) of the Principal Act as amended by this Act fixing, for the purposes of section 10 of the Principal Act as amended by this Act in its application to the corporation in respect of the bank, a percentage equal to the percentage of the aggregate of the nominal amounts of all the voting shares of the bank represented by the nominal amount of the share, or of the aggregate of the nominal amounts of the shares, first referred to in paragraph (b).
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SCHEDULE    Section 11

FORMAL AMENDMENTS

Sub-section 6(1), definition of "bank"—
Omit "1967".