Document ID: chunk:federal_register_of_legislation:C2024C00742:section:151zb
Version: federal_register_of_legislation:C2024C00742
Segment Type: section
Provision Reference: s 151ZB
Character Range: 367110–369056

151ZB  Requirement to notify changes in control of person who gave undertaking

Notification by person who gave undertaking
 (1) If:
 (a) a functional separation undertaking given by a person (the first person) is in force; and
 (b) the first person becomes aware that:
 (i) a person who was not in a position to exercise control of the first person has become in a position to exercise control of the first person; or
 (ii) a person who was in a position to control the first person has ceased to be in that position;
the first person must:
 (c) notify the ACCC, in writing, of that event; and
 (d) do so as soon as practicable, but not later than 10 business days, after becoming so aware.
Note: See section 154.
 (2) The notice must be in a form approved, in writing, by the ACCC.

Notification by controller of person who gave undertaking
 (3) If:
 (a) a functional separation undertaking given by a person (the first person) is in force; and
 (b) another person becomes aware that the other person is in a position to exercise control of the first person;
the other person must:
 (c) notify the ACCC, in writing, of that position; and
 (d) do so as soon as practicable, but not later than 10 business days, after becoming so aware.
Note: See section 154.
 (4) The notice must be in a form approved, in writing, by the ACCC.

Ancillary contraventions
 (5) A person must not:
 (a) aid, abet, counsel or procure a contravention of subsection (1) or (3); or
 (b) induce, whether by threats or promises or otherwise, a contravention of subsection (1) or (3); or
 (c) be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (1) or (3); or
 (d) conspire with others to effect a contravention of subsection (1) or (3).

Civil penalty provisions
 (6) Subsections (1), (3) and (5) are civil penalty provisions.
Note: Part 31 provides for pecuniary penalties for breaches of civil penalty provisions.