Statute
Section 912DA — Corporations Act 2001: Obligation to notify ASIC of change in control
Text of the provision Official document
(1) If an entity starts to control, or stops controlling, a financial services licensee, the licensee must lodge a notification with ASIC: (a) in the prescribed form; and (b) before the end of 30 business days after the day the entity starts to control, or stops controlling, the financial services licensee. Note: Failure to comply with this subsection is an offence: see subsection 1311(1). (2) An offence based on subsection (1) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code.
Official source: Federal Register of Legislation
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