Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) A licensee must, within 10 days after becoming aware of any financial interest of another person in the licence or in a water allocation endorsed on the licence, provide the Minister in writing with details of the interest.
(2) A person is not taken to have a financial interest for the purposes of subsection (1) by reason only of the fact that he or she is a shareholder in, or a member of, a body corporate that holds the licence.
(3) On receipt of notification under subsection (1), the Minister must make a notation in the register to that effect.
(4) If the Minister is satisfied, on notification in writing by a person, that he or she has a financial interest in a licence or water allocation, the Minister must make a notation in the register to that effect.
(5) Where the register includes a notation made under subsection (3) that a specified person has a financial interest in a licence or a water allocation of a licence, the Minister must, on written notification by that person that that interest no longer exists, remove that notation from the register.
(6) Where the register includes a notation made under subsection (3) that a specified person has a financial interest in a licence or a water allocation of a licence, the Minister must, on written notification by that person that that interest has been varied, amend that notation in the register accordingly.
(7) . . . . . . . .
(8) A licensee who fails to provide the Minister with details of a financial interest as required by subsection (1) is guilty of an offence and is liable on summary conviction to a fine not exceeding 10 penalty units.