Victorian Consolidated Legislation

Introduction Agents Act 1997 - SECT 36

Notice of termination of business must be given

36. Notice of termination of business must be given



(1) This section applies to a person who has given the Authority a notice
under section 15.



(2) The person must give the Authority written notice that she, he or it has
stopped acting as an introduction agent not later than 7 days after stopping
to act as an introduction agent.

Penalty: 20 penalty units.

(3) In order to comply with subsection (2), the notice must be in the form,
and contain the details, required by the Authority.



(4) Within one month of a person stopping to act as an introduction agent, the
person must give the Authority a statement in the form and containing the
details required under section 35 for the period from the last date covered by
the last statement given to the Authority under section 35 to the date the
person stopped acting as an introduction agent.

Penalty: 50 penalty units.

(5) If the person had not given the Authority a statement under section 35
before stopping to act as an introduction agent, the starting date of the
period referred to in subsection (4) is the date the person started acting as
an introduction agent.