195False or misleading documents

195 False or misleading documents

(1) A person is liable to a civil penalty if:

(a) the person produces a document to another person; and

(b) the person does so knowing that the document is false or misleading; and

(c) the document is produced in compliance or purported compliance with a provision of Part 6 or 7 or Division 3 or 4 of Part 8.

Note: Parts 6 and 7 are about crisis readiness and crisis resolution. Divisions 3 and 4 of Part 8 are about powers of the Reserve Bank relating to information, and assisting the Reserve Bank and certain persons.

Civil penalty:

(a) for a body corporate—the greater of:

(i) 50,000 penalty units; and

(ii) if the court can determine the benefit derived and detriment avoided because of the contravention—that amount multiplied by 3; and

(b) for an individual—the greater of:

(i) 5,000 penalty units; and

(ii) if the court can determine the benefit derived and detriment avoided because of the contravention—that amount multiplied by 3.

(2) A person is liable to a civil penalty if:

(a) the person produces a document to another person; and

(b) the person does so knowing that the document is false or misleading; and

(c) the document is produced in compliance or purported compliance with a provision of this Act, other than a provision of Part 6 or 7 or Division 3 or 4 of Part 8.

Note: Parts 6 and 7 are about crisis readiness and crisis resolution. Divisions 3 and 4 of Part 8 are about powers of the Reserve Bank relating to information, and assisting the Reserve Bank and certain persons.

Civil penalty: 1,000 penalty units.

(3) Subsection (1) or (2) does not apply if the document is not false or misleading in a material particular.

Note: A defendant bears an evidential burden in relation to the matter in this subsection (see section 96 of the Regulatory Powers Act).

(4) Subsection (1) or (2) does not apply to a person who produces a document if the document is accompanied by a written statement signed by the person or, in the case of a body corporate, by a competent officer of the body corporate:

(a) stating that the document is, to the knowledge of the first‑mentioned person, false or misleading in a material particular; and

(b) setting out, or referring to, the material particular in which the document is, to the knowledge of the first‑mentioned person, false or misleading.

Note: A defendant bears an evidential burden in relation to the matter in this subsection (see section 96 of the Regulatory Powers Act).