Document ID: chunk:federal_register_of_legislation:C2021A00096:clause:1_566k
Version: federal_register_of_legislation:C2021A00096
Segment Type: clause
Provision Reference: sch 1 cl 566K
Character Range: 18154–19067

566K  Notification of change in control
 (1) A person contravenes this subsection if:
 (a) the Titles Administrator approves a change in control of a registered holder of a title; and
 (b) the change in control takes effect within the approval period for the change in control; and
 (c) the person given notice of the approval of the change in control does not notify the Titles Administrator of the matter in paragraph (b) within 10 days after the end of the approval period.

Civil penalty provision
 (2) A person is liable to a civil penalty if the person contravenes subsection (1).
Civil penalty: 480 penalty units.
 (3) The maximum civil penalty for each day that a contravention of subsection (2) continues is 10% of the maximum civil penalty that can be imposed in respect of that contravention.
Note: Subsection (2) is a continuing civil penalty provision under section 93 of the Regulatory Powers Act.