Document ID: chunk:federal_register_of_legislation:C2020A00003:clause:3_912da
Version: federal_register_of_legislation:C2020A00003
Segment Type: clause
Provision Reference: sch 3 cl 912DA
Character Range: 36176–36768

912DA  Obligation to notify ASIC of change in control
 (1) If an entity starts to control, or stops controlling, a financial services licensee, the licensee must lodge a notification with ASIC:
 (a) in the prescribed form; and
 (b) before the end of 30 business days after the day the entity starts to control, or stops controlling, the financial services licensee.
Note: Failure to comply with this subsection is an offence: see subsection 1311(1).
 (2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.