Document ID: chunk:federal_register_of_legislation:C2004A01287:clause:3_7:p1
Version: federal_register_of_legislation:C2004A01287
Segment Type: clause
Provision Reference: sch 3 cl 7 (pt 1/2)
Character Range: 152881–155465

7  Subsections 129(3A), (3B), (4), (5), (6) and (7)
Repeal the subsections, substitute:

The person may not have to tell a trustee or the Regulator about the matter

 (3A) The person does not have to:
 (a) tell a trustee of the entity about the matter if:
 (i) the person has been told by another person to whom this section applies that the other person has already told a trustee of the entity about the matter; and
 (ii) the first‑mentioned person has no reason to disbelieve that other person; or
 (b) tell the Regulator about the matter if:
 (i) the person has been told by another person to whom this section applies that the other person has already told the Regulator about the matter; and
 (ii) the first‑mentioned person has no reason to disbelieve that other person.

Penalties for misinformation

 (3B) A person (the first person) commits an offence if:
 (a) this section applies to the first person; and
 (b) the first person is aware of a matter that must, under this section, be told to a trustee; and
 (c) the first person tells another person to whom this section applies that the first person has told a trustee about the matter; and
 (d) the first person has not done what the first person told the other person 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.

 (3C) A person (the first person) commits an offence if:
 (a) this section applies to the first person; and
 (b) the first person is aware of a matter that must, under this section, be told to the Regulator; and
 (c) the first person tells another person to whom this section applies that the first person has told the Regulator about the matter; and
 (d) the first person has not done what the first person told the other person 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

 (4) 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

 (5) A person is guilty of an offence if the person contravenes subsection (3).

Penalty: 50 penalty units.

 (6) A person is guilty of an offence if the person contravenes subsection (3). 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