Document ID: chunk:federal_register_of_legislation:C2023C00275:clause:2_19
Version: federal_register_of_legislation:C2023C00275
Segment Type: clause
Provision Reference: sch 2 cl 19
Character Range: 79915–81001

19  Obligation to provide ASIC with assistance if reasonably requested

Requirement to provide assistance
(1) If ASIC, or a person authorised by ASIC, reasonably requests assistance from a registered person in relation to whether the registered person and its representatives are complying with the credit legislation, the registered person must give ASIC or the authorised person the requested assistance.
Civil penalty: 2,000 penalty units.
(2) If the request is in writing, it is not a legislative instrument.

Offence
(3) A person commits an offence if:
 (a) the person is subject to a requirement to give ASIC or an authorised person assistance under subitem (1); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 25 penalty units, or 6 months imprisonment, or both.

Assistance may include showing ASIC credit books etc.
(4) The assistance referred to in subitem (1) may include showing ASIC the person's credit books or giving ASIC other information.

Division 4—When registrations can be suspended, cancelled or varied