26BNotification requirements for licensees

26B Notification requirements for licensees (1) A licensee must give the registrar written notice of the following events or circumstances (a notification event): (a) for an individual who is the licensee—the individual becomes bankrupt or personally insolvent; (b) for a corporation that is the licensee— (i) the corporation becomes the subject of a winding-up order; or (ii) the corporation is placed into administration, receivership or liquidation; (c) for a partnership that is licensed in a construction occupation or occupation class—a partner’s licence in the same occupation or class is suspended or cancelled; (d) the licensee, or a director or partner of the licensee, is found guilty, whether in the ACT or anywhere else, of an offence (ii) is punishable by imprisonment for at least 1 year; (e) the licensee is not insured for a construction occupation or occupation class in accordance with the regulation; (f) for a corporation or partnership that is the licensee—the licensee does not have the required nominee or nominees for the construction occupation or occupation class of the licence. (2) The notice must be given within 24 hours after the notification event. (3) A licensee commits an offence if the licensee— (a) knows about a notification event; and (b) fails to give the notice required under this section. Maximum penalty: 100 penalty units.