Document ID: chunk:federal_register_of_legislation:C2024C00826:section:50
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 50
Character Range: 140732–141933

50  Obligation to give ASIC information required by the regulations

Regulations may require licensee to give information
 (1) The regulations may require a licensee, or each licensee in a class of licensees, to give ASIC specified information about the credit activities engaged in by the licensee or its representatives.

Requirement to comply with regulations
 (2) If regulations under subsection (1) require a licensee to give ASIC information, the licensee must give ASIC that information.
Civil penalty: 5,000 penalty units.

Offence
 (3) A person commits an offence if:
 (a) the person is subject to a requirement to give ASIC information under subsection (2); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 6 months imprisonment.

Strict liability offence
 (4) A person commits an offence if:
 (a) the person is subject to a requirement to give ASIC information under subsection (2); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 20 penalty units.
 (5) Subsection (4) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.