National Consumer Credit Protection Act 2009
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View history noteSubdiv B heading inserted by No 135 of 2020, s 3 and Sch 11 [ 14], effective 1 October 2021.
Regulations may require licensee to give information
50(1)
The regulations may require a licensee, or each licensee in a class of licensees, to give ASIC specified information about the credit activities engaged in by the licensee or its representatives.
Requirement to comply with regulations
50(2)
If regulations under subsection (1) require a licensee to give ASIC information, the licensee must give ASIC that information.
Civil penalty: 5,000 penalty units.
S 50(2) amended by No 17 of 2019, s 3 and Sch 3[48], effective 13 March 2019.
Offence
50(3)
A person commits an offence if:
(a) the person is subject to a requirement to give ASIC information under subsection (2); and
(b) the person engages in conduct; and
(c) the conduct contravenes the requirement.
Criminal penalty: 6 months imprisonment.
S 50(3) amended by No 17 of 2019, s 3 and Sch 3[49][7], effective 13 March 2019.
Strict liability offence
50(4)
A person commits an offence if:
(a) the person is subject to a requirement to give ASIC information under subsection (2); and
(b) the person engages in conduct; and
(c) the conduct contravenes the requirement.
Criminal penalty: 20 penalty units.
S 50(4) amended by No 17 of 2019, s 3 and Sch 3[49][8], effective 13 March 2019.
50(5)
Subsection (4) is an offence of strict liability.
Note:
For strict liability, see section 6.1 of the Criminal Code .
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