Document ID: chunk:federal_register_of_legislation:C2013A00072:clause:2_14
Version: federal_register_of_legislation:C2013A00072
Segment Type: clause
Provision Reference: sch 2 cl 14
Character Range: 12131–13364

14  Contravention of final annual reporting requirement
(1) If a final annual reporting requirement is contravened, each member of the new Board who:
 (a) caused the contravention; or
 (b) failed to take all reasonable steps to comply with the requirement, or secure compliance with the requirement;
contravenes this subitem.
(2) Schedule 2 to the Commonwealth Authorities and Companies Act 1997 applies in relation to a contravention of subitem (1) of this item as if:
 (a) subitem (1) of this item were a civil penalty provision specified in clause 1 of that Schedule; and
 (b) subparagraphs 3(1)(b)(i) and (ii), clauses 4 and 5, subclause 6(2) and paragraph 11(c) of that Schedule were omitted; and
 (c) the reference to "or a compensation order" in subclause 6(1) were omitted.
(3) If a contravention of a final annual reporting requirement consists of an omission from the financial statements, it is a defence if the defendant proves that the information omitted was immaterial and did not affect the giving of a true and fair view of the matters required by the Finance Minister's Orders to be included in the statements.
(4) In this item:
final annual reporting requirement means subitem 13(1), (3) or (5) of this Schedule.