13QNon‑compliance with a recapitalisation direction

#### 13Q Non‑compliance with a recapitalisation direction (1) An ADI commits an offence if: (a) the ADI does, or refuses or fails to do, an act; and (b) doing, or refusing or failing to do, the act results in a contravention of a recapitalisation direction given to the ADI. Penalty: 50 penalty units. (2) However, subsection (1) does not apply if: (a) the ADI made reasonable efforts to comply with the recapitalisation direction; and (b) the ADI’s contravention is due to circumstances beyond the ADI’s control. > Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code). (3) If an ADI does, or refuses or fails to do, an act in circumstances that give rise to the ADI committing an offence against subsection (1), the ADI commits an offence against that subsection in respect of: (a) the first day on which the offence is committed; and (b) each subsequent day (if any) on which the circumstances that gave rise to the ADI committing the offence continue (including the day of conviction for any such offence or any later day). > Note: This subsection is not intended to imply that section 4K of the Crimes Act 1914 does not apply to offences against this Act or the regulations. (4) An officer of an ADI commits an offence if: (a) the officer refuses or fails to take reasonable steps to ensure that the ADI complies with a recapitalisation direction given to the ADI; and (b) the officer’s duties include ensuring that the ADI complies with the direction, or with a class of directions that includes the direction. Penalty: 50 penalty units. (5) If an officer of an ADI refuses or fails to take reasonable steps to ensure that the ADI complies with a recapitalisation direction given to the ADI in circumstances that give rise to the officer committing an offence against subsection (4), the officer commits an offence against that subsection in respect of: (a) the first day on which the offence is committed; and (b) each subsequent day (if any) on which the circumstances that gave rise to the officer committing the offence continue (including the day of conviction for any such offence or any later day). > Note: This subsection is not intended to imply that section 4K of the Crimes Act 1914 does not apply to offences against this Act or the regulations. (6) In this section, officer has the meaning given by section 9 of the Corporations Act 2001.