168Reserve Bank—directions to give information or documents relating to other powers

168 Reserve Bank—directions to give information or documents relating to other powers

(1) The Reserve Bank may, by written notice given to a person to whom subsection (2) applies, direct the person to give any of the following to the Reserve Bank:

(a) specified information;

(b) specified documents;

(c) documents containing specified information.

Note: The secrecy provision in section 79A of the Reserve Bank Act 1959 applies to information and documents obtained by the Reserve Bank under this section.

(2) This subsection applies to a person if:

(a) the person:

(i) is a body corporate that is a designated entity; or

(ii) is a related body corporate of a designated entity and is incorporated in Australia; or

(iii) was a related body corporate of a designated entity before a transfer of business or shares under Part 7 and is incorporated in Australia; or

(iv) is an officer of a body corporate mentioned in subparagraph (i), (ii) or (iii); and

(b) the Reserve Bank reasonably believes that the person is capable of giving the information or documents; and

(c) the Reserve Bank reasonably believes that the information or documents would assist the Reserve Bank:

(i) for a body corporate mentioned in subparagraph (a)(i) or (ii) or an officer of such a body corporate—to perform its functions, or exercise its powers, under Part 6; or

(ii) in any case—to manage or respond to a condition in section 90 being satisfied in relation to the entity.

(3) The direction must specify a reasonable time by which, or a reasonable period during which, it is to be complied with.

(4) Without limiting subsection (1), the direction may:

(a) specify the form and manner in which the information or documents must be given; or

(b) direct a person to give information or documents over a specified period, or by reference to specified events or matters that occur or are anticipated to occur during a specified period.

(5) A person contravenes this subsection if:

(a) the person is given a direction under subsection (1); and

(b) the person fails to comply with the direction.

Fault‑based offence

(6) A person commits an offence if the person contravenes subsection (5).

Penalty:

(a) for a body corporate—2,400 penalty units; and

(b) for an individual—imprisonment for 2 years or 240 penalty units, or both.

(7) Subsection 4K(2) (continuing offences) of the Crimes Act 1914 does not apply in relation to an offence against subsection (6) of this section.