Document ID: chunk:federal_register_of_legislation:C2025A00015:clause:1_58be
Version: federal_register_of_legislation:C2025A00015
Segment Type: clause
Provision Reference: sch 1 cl 58BE
Character Range: 21424–22367

58BE  Annual certification about SPF governance policies, procedures, metrics and targets—civil penalty provision
 (1) A regulated entity for a regulated sector contravenes this subsection if:
 (a) no senior officer of the entity certifies in writing, within 12 months of the day the entity becomes a regulated entity for the sector, whether the entity's SPF governance policies, procedures, metrics and targets for the sector comply with this Subdivision; or
 (b) no senior officer of the entity certifies in writing, within 7 days after each 12‑month anniversary of the day the entity becomes a regulated entity for the sector, whether the entity's SPF governance policies, procedures, metrics and targets for the sector comply with this Subdivision.
 (2) Subsection (1) is a civil penalty provision.
Note: This means subsection (1) is a civil penalty provision of an SPF principle for the purposes of section 58FJ (about civil penalties).