Document ID: chunk:federal_register_of_legislation:C2004C01110:clause:2_7
Version: federal_register_of_legislation:C2004C01110
Segment Type: clause
Provision Reference: sch 2 cl 7
Character Range: 17271–18269

7  Subsection 10(3)
Repeal the subsection, substitute:

 (3) An ADI is guilty of an offence if:
 (a) an alteration is made to the Act, charter, deed of settlement, memorandum of association, articles of association, constitution or other document by which the ADI was constituted as a body corporate; and
 (b) the ADI does not, within 3 months of the making of the alteration, give to APRA a written statement:
 (i) that sets out particulars of the alteration; and
 (ii) that is verified by a statutory declaration made by a senior officer of the ADI; and
 (c) there is no order in force under section 11 determining that this subsection does not apply to the ADI.

Maximum penalty: 50 penalty units.

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.