Document ID: chunk:federal_register_of_legislation:C2005C00497:clause:2_62a
Version: federal_register_of_legislation:C2005C00497
Segment Type: clause
Provision Reference: sch 2 cl 62A
Character Range: 42208–43655

62A  Notices to APRA

 (1) A member of a relevant group of bodies corporate commits an offence if:
 (a) it becomes aware of any of the following matters:
 (i) it, or another member of the group, has committed a breach of a prudential standard applying to it or to the other member, as the case may be;
 (ii) it, another member of the group, or the group as a whole, may not be in a sound financial position;
 (iii) another member of the group has committed a breach of this Act, the regulations, a direction under Division 1BA or a condition of an authority granted under this Act to the other member; and
 (b) it fails to notify APRA of the matter immediately after it becomes aware of the matter.

Penalty: 200 penalty units.

 (2) If an individual:
 (a) commits an offence against subsection (1) because of Part 2.4 of the Criminal Code; or
 (b) commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (1);
he or she is punishable, on conviction, by a fine not exceeding 40 penalty units.

 (3) A notification given to APRA of a matter mentioned in paragraph (1)(a) must not include information, books, accounts or documents with respect to the affairs of an individual customer of an ADI unless the information, books, accounts or documents are in respect of prudential matters relating to:
 (a) the ADI; or
 (b) any member of a relevant group of bodies corporate of which the ADI is a member.

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