Document ID: chunk:federal_register_of_legislation:C2024C00844:section:98c
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 98C
Character Range: 263408–264703

98C  Failure to notify Treasurer of taking of action specified in no objection notification
 (1) Subsection (2) applies if:
 (a) a person:
 (i) is given a no objection notification specifying one or more core Part 3 actions; or
 (ii) is specified in a no objection notification specifying one or more core Part 3 actions; and
 (b) the person takes one of those core Part 3 actions; and
 (c) if regulations made for the purposes of this paragraph specify requirements—those requirements are met.
 (2) The person must give the Treasurer a notice in accordance with subsection (3) no later than 30 days after the latest of the following days:
 (a) the day on which the person took the core Part 3 action;
 (b) the day on which the no objection notice was given;
 (c) if the core Part 3 action is the acquisition of an interest in a security, asset, trust or Australian land, and section 15 applies in relation to the acquisition—the day on which the person acquired the interest in a security, asset, trust or Australian land (disregarding section 15).
Civil penalty: 250 penalty units.
 (3) The notice must:
 (a) describe the core Part 3 action; and
  (b) state the day on which it was taken; and
 (c) meet any other requirements specified in regulations made for the purposes of this paragraph.