15Registered corporation must submit assessment plan every 5 years

15 Registered corporation must submit assessment plan every 5 years

(1) A registered corporation must give the Secretary an assessment plan meeting the requirements in section 18.

Note: Section 70 of the Crimes Act 1914 creates an offence where Commonwealth officers (including persons performing services for or on behalf of the Commonwealth) disclose information in breach of a duty of confidentiality.

(2) An assessment plan must be given to the Secretary at a time during each of the following periods: (a) the period of 18 months beginning on 1 July in the financial year in which the corporation was most recently required to make an application under section 9 to be registered under Part 4; (b) the period of 18 months beginning on every fifth anniversary of that 1 July.

Note: Example: A registered corporation’s trigger year under section 9 is the financial year 2005‑2006. In the financial year 2006‑2007 the corporation is required to apply under that section to be registered under Part 4.

Note: The corporation’s first assessment plan must be given during the period of 18 months beginning on 1 July 2006 and ending on 31 December 2007.

Note: The corporation’s later assessment plans must be given during the period of 18 months beginning on 1 July 2011 and ending on 31 December 2012, and so on.

(4) To avoid doubt, a controlling corporation that has applied to be registered under Part 4, but is not yet registered, may give the Secretary an assessment plan for the purposes of complying with subsection (1). (5) A registered corporation contravenes this subsection if it fails to comply with subsections (1) and (2).

Note: Clause 3 of Schedule 1 provides for a civil penalty for failing to comply with this subsection.