42FSubstantial changes in state of affairs of associates

42F Substantial changes in state of affairs of associates

42F Substantial changes in state of affairs of associates

(1) A close associate of a casino operator must, as soon as practicable after a substantial change occurs in the close associate’s state of affairs, give the NICC written notice about the change.

(2) After receiving a notice under subsection (1), the NICC may, by written notice given to the close associate, require the close associate to do any of the following—

(a) give the NICC further information about the substantial change,

(b) take, or refrain from taking, specified action in relation to the substantial change within the time specified in the notice.

(3) The close associate must comply with the notice.

Maximum penalty—

(a) for an individual—100 penalty units, or

(b) for a corporation—1,000 penalty units.

(4) In this section—

substantial change, in the state of affairs existing in relation to a close associate of a casino operator, means any change in the state of affairs that is of a class or description prescribed as substantial for the purposes of this section.

s 42F: Ins 2022 No 36, Sch 1[42].