Commonwealth Consolidated Acts

FINANCIAL SECTOR (COLLECTION OF DATA) ACT 2001 - SECT 9

             (1)  If, on the commencement of this Part, a registrable corporation is not a registered entity, the corporation must, before the end of 60 days after the date of commencement of this Part, give to APRA the documents mentioned in subsection (5).

Penalty:  50 penalty units.

Note:          If a corporation to which subsection (1) applies fails to give the documents to APRA before the end of the period specified in that subsection, the obligation to give them to APRA continues after the end of that period with daily offences being committed until the obligation is complied with (see section 4K of the Crimes Act 1914 ).

             (2)  If, after the commencement of this Part, a corporation becomes a registrable corporation, whether at the time of its incorporation or at a later time and whether or not the corporation has previously been a registrable corporation, the corporation must, before the end of 60 days after the day on which it becomes a registrable corporation, give to APRA the documents mentioned in subsection (5).

Penalty:  50 penalty units.

Note:          If a corporation to which subsection (2) applies fails to give the documents to APRA before the end of the period specified in that subsection, the obligation to give them to APRA continues after the end of that period with daily offences being committed until the obligation is complied with (see section 4K of the Crimes Act 1914 ).

             (3)  APRA may, before the end of the period referred to in subsection (1) or (2) (including any period that is taken to be substituted for that period by any other application or applications of this subsection) allow a longer period for the giving by a particular corporation of documents in accordance with that subsection and, in that case, the longer period is taken, for the purposes of the application of that subsection in relation to that corporation, to be substituted for the period referred to in that subsection.

             (4)  Neither subsection (1) nor (2) applies to a corporation if, before the end of the period referred to in that subsection (including any period that is taken to be substituted for that period by any application or applications of subsection (3) in relation to that corporation), the corporation ceases to be a registrable corporation.

Note:          A defendant bears an evidential burden in relation to matters in subsection (4) (see subsection 13.3(3) of the Criminal Code ).

             (5)  The documents referred to in subsections (1) and (2) are:

                     (a)  a statement in writing setting out:

                              (i)  the name, the place and date of incorporation and the address of the registered office of the corporation; and

                             (ii)  the name, and the address of the registered office, of every corporation that is related to the corporation; and

                            (iii)  particulars of the principal methods by which the corporation ordinarily borrows moneys; and

                            (iv)  particulars of the principal kinds of finance ordinarily provided by the corporation; and

                     (b)  a copy of the last audited balance‑sheet of the corporation; and

                     (c)  if there is no such balance‑sheet or the balance‑sheet includes both assets and liabilities in Australia and assets and liabilities outside Australia but does not show the assets and liabilities in Australia separately from the assets and liabilities outside Australia--a statement showing the assets and liabilities in Australia of the corporation.

             (6)  If:

                     (a)  a registered entity changes its name or the address of its registered office; or

                     (b)  a change takes place in the principal methods by which a registered entity ordinarily borrows moneys or in the principal kinds of finance ordinarily provided by a registered entity; or

                     (c)  a corporation that is related to a registered entity ceases to be so related; or

                     (d)  a corporation becomes related to a registered entity;

the registered entity must, before the end of the period of 60 days after the occurrence of the event concerned, notify APRA in writing accordingly.

Penalty:  10 penalty units.

Note:          If a financial sector entity to which subsection (6) applies fails to notify APRA before the end of the period specified in that subsection, the obligation to notify APRA continues after the end of that period with daily offences being committed until the obligation is complied with (see section 4K of the Crimes Act 1914 ).

             (7)  A corporation is not required by this section to give to APRA a statement or notification in relation to a matter if a statement or notification in relation to that matter has already been given to APRA by another corporation.

Note:          A defendant bears an evidential burden in relation to matters in subsection (7) (see subsection 13.3(3) of the Criminal Code ).

             (8)  A statement or notification by a corporation to APRA under this section must be signed by a senior officer of the corporation.

             (9)  APRA must, if requested to do so by the Secretary to the Department, give the Secretary a copy of a document received by APRA under this section.

           (10)  An offence for a contravention of subsection (1), (2) or (6) is an offence of strict liability.