Document ID: chunk:federal_register_of_legislation:C2024C00844:section:84
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 84
Character Range: 239363–240925

84  Failing to give notice

Failing to give notice—general case
 (1) A person commits an offence if:
 (a) the person is a foreign person; and
 (b) the person takes an action (other than because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities)); and
 (c) the action is a notifiable action or notifiable national security action; and
 (d) a notice is not given under subsection 81(1) in relation to the action before the action is taken.
Note: If a person takes an action by entering an agreement, the action is not taken until the agreement is binding on the person (see subsections 15(4) and (5)).
Penalty: Imprisonment for 10 years, or 15,000 penalty units (or 150,000 penalty units if the person is a corporation), or both.

Failing to give notice—increasing percentage of interests without acquiring additional interests in securities
 (2) A person commits an offence if:
 (a) the person is a foreign person; and
 (b) the person takes an action because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities); and
 (c) the action is a notifiable action or a notifiable national security action; and
 (d) the person does not give a notice as required by subsection 81(1A) before the end of 30 days after the action is taken.
Note: The notice may be given before or after the action is taken.
Penalty: Imprisonment for 10 years, or 15,000 penalty units (or 150,000 penalty units if the person is a corporation), or both.