37Obligation to give ASIC information if requested

#### 37 Obligation to give ASIC information if requested (1) ASIC may request an entity (other than a government body) to give ASIC information relevant for the purposes of establishing or maintaining the Business Names Register. (2) A request under subsection (1) to an entity: (a) is to be made by notice in writing to the entity; and (b) must specify: (i) the information the entity is to give; and (ii) the period within which the entity is to give the information. The period specified under subparagraph (b)(ii) must be of at least 28 days, beginning on the day on which the notice is given. (3) If ASIC requests an entity to give information under this section, the entity must comply with the request. Penalty: 5 penalty units. (4) Subsection (3) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (5) The information must be given by lodging a response with ASIC in the prescribed form and manner. (6) If: (a) an entity fails to comply with a request given under this section; and (b) ASIC reasonably believes that information on the Business Names Register to which the request relates is not correct; ASIC may delete, correct or annotate the information on the Register. (7) If: (a) an entity gives ASIC information in purported compliance with a request given under this section; and (b) ASIC reasonably believes that the information is incorrect; ASIC may decide not to include the information on the register, or to include the information in a corrected or annotated form. (8) If ASIC deletes, decides not to include, corrects or annotates information under subsection (6) or (7), ASIC must give the entity to whom the business name is registered notice in writing: (a) setting out the action ASIC has taken; and (b) in the case of a correction or annotation, setting out the details of that correction or annotation; and (c) giving ASIC’s reasons for its decision.