Document ID: chunk:federal_register_of_legislation:C2024C00572:section:20
Version: federal_register_of_legislation:C2024C00572
Segment Type: section
Provision Reference: s 20
Character Range: 68153–70506

20  Liability of other persons to provide certain information
 (1) Section 19 does not require a registered corporation to include in a report under that section information of a kind that the Regulator determines under subsection (3) is to be provided by another person.
 (2) The registered corporation or the other person may apply to the Regulator for a determination under subsection (3). The application must:
 (a) be in a form approved by the Regulator; and
 (b) comply with any requirements prescribed by the regulations.
 (3) The Regulator may, if satisfied that:
 (a) information that the registered corporation would, but for this section, be required to include in a report under section 19 is information that:
 (i) is not in the possession or under the control of the registered corporation; and
 (ii) is in the possession or under the control of another person with whom the registered corporation, or a member of the corporation's group, has a contractual relationship; and
 (b) the registered corporation:
 (i) is not entitled to acquire the information from the other person; or
 (ii) is entitled to acquire the information from the other person only because the other person is obliged to assist the corporation to comply with this Act; and
 (c) the other person has refused to give the information to the registered corporation; and
 (d) any other requirements specified in the regulations have been met;
determine, in writing, that the information is to be provided by the other person.
 (4) The other person must, in accordance with any requirements specified in the regulations, provide that information to the Regulator on or before the day specified in the determination.
Civil penalty:
 (a) for an individual—400 penalty units; or
 (b) otherwise—2,000 penalty units.
Note 1: Under Division 137 of the Criminal Code it may be an offence to provide false or misleading information or documents to the Regulator in purported compliance with this Act.
Note 2: Under section 30 the person may be liable for an additional civil penalty for each day after the day specified in the determination for which it fails to provide information in accordance with this section.
 (5) The Regulator must give written notice of a determination, or a decision refusing to make a determination, to the registered corporation and the other person.