Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:1_167
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 1 cl 167
Character Range: 135641–136583

167  At the end of section 91 (after the penalty)
Add:

Failing to give notice—increasing percentage of interests without acquiring additional interests in securities
 (2) A foreign person who takes a notifiable action or notifiable national security action because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities) must give a notice to the Treasurer before the end of 30 days after the action is taken.
Note: The notice may be given before or after the action is taken.

Civil penalty provisions
 (3) A person who contravenes subsection (1) or (2) is liable to a civil penalty.
 (4) The maximum penalty for the contravention is the lesser of the following:
 (a) 2,500,000 penalty units;
 (b) the greater of the following:
 (i) 5,000 penalty units (or 50,000 penalty units if the person is a corporation);
 (ii) the amount worked out under section 98F for the action.