Document ID: chunk:federal_register_of_legislation:C2024C00826:section:266
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 266
Character Range: 592425–594106

266  Notice to produce books about credit activities or credit reporting
 (1) ASIC may give to:
 (a) a person who engages in a credit activity (either alone or together with any other person or persons); or
 (b) a person who ASIC, on reasonable grounds, suspects has been a party to engaging in a credit activity; or
 (c) a representative, banker, lawyer or auditor of a person referred to in paragraph (a) or (b);
a written notice requiring the production to a specified ASIC member or ASIC staff member, at a specified place and time, of specified books relating to:
 (d) a credit activity engaged in by a person; or
 (e) the character or financial situation of, or a business carried on by, a person who engages, or has engaged, in a credit activity.
Note: Failure to comply with a requirement made under this subsection is an offence (see section 290).
 (2) ASIC may give to:
 (a) a Part 3‑2CA body that is, or has been, subject to a requirement under Part 3‑2CA (other than Division 4), either alone or together with any other person or persons; or
 (b) a representative, banker, lawyer or auditor of a person referred to in paragraph (a);
a written notice requiring the production to a specified ASIC member or ASIC staff member, at a specified place and time, of specified books relating to:
 (c) information, or a statement, to which that requirement relates; or
 (d) the character or financial situation of, or a business carried on by, a person who is, or has been, subject to that requirement.
Note 1: Part 3‑2CA is about mandatory comprehensive credit reporting.
Note 2: Failure to comply with a requirement made under this subsection is an offence (see section 290).