Document ID: chunk:federal_register_of_legislation:C2018A00027:clause:1_908br
Version: federal_register_of_legislation:C2018A00027
Segment Type: clause
Provision Reference: sch 1 cl 908BR
Character Range: 24306–24961

908BR  Obligation to assist ASIC, APRA and the Reserve Bank
 (1) ASIC, APRA and the Reserve Bank of Australia are each a regulator to which this section applies.
 (2) A person commits an offence if:
 (a) the person is a benchmark administrator licensee; and
 (b) a regulator to which this section applies reasonably requests, in writing, the person to:
 (i) give the regulator access to the person's books that relate to the person's capacity as such a licensee; or
 (ii) give other assistance to the regulator in relation to the performance of the regulator's functions; and
 (c) the person fails to comply with the request.
Penalty: 100 penalty units.