6GNotification of interests

6G Notification of interests

[Section 6G Inserted by No. 9 of 1982, s. 7 and Sched. 10 ]

(1)  A Commissioner or a person who is appointed for the purposes of this Act or of any other law of Tasmania that confers functions or powers on the Commissioner, or is authorized to perform or exercise any function or power of the Commissioner under this Act or any other law in force in Tasmania, or any such function or power on behalf of the Commissioner, and who, in the course of his official duties or the performance or exercise of the function or power, is required to consider any matter relating to –

(a) a body corporate in the securities of which he has a relevant interest;

(b) securities in which he has a relevant interest;

(c) securities of the same class as securities in which he has a relevant interest;

(d) a person or body –

(i) by whom or by which he is employed or has been employed at any time during the immediately preceding 3 years; or

(ii) with whom or with which he is associated; or

(e) a body corporate that is related to a body corporate by which he is employed or has been employed at any time during the immediately preceding 3 years –

shall forthwith in writing inform the Commissioner or, in the case of the Commissioner, the Minister as to that matter and his interest or connection with that matter.

(2)  *[Section 6G Subsection (2) amended by No. 67 of 1994, s. 3 and Sched. 1 ]*Any person to whom subsection (1) applies who fails to comply with that subsection is guilty of an offence and is liable on summary conviction to a fine not exceeding 50 penalty units or to imprisonment for a term not exceeding 1 year, or both.

(3)  It is a defence to a prosecution for an offence against subsection (2) in respect of a failure by a person to inform the Commissioner or the Minister that that person is required to consider a matter relating to a particular body corporate, a particular person, or particular securities if that person establishes that, at the time when he was required to consider the matter, he was not aware of a fact or matter the existence of which obliged him to inform the Commissioner or the Minister that he was required to consider the first-mentioned matter.