Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 3 - Obligations of financial services licensees  

SECTION 912DA   OBLIGATION TO NOTIFY ASIC OF CHANGE IN CONTROL  

912DA(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) .

912DA(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 .


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