sec.43Notification requirements for all authority holders

sec.43 Notification requirements for all authority holders

This section applies if any of the following events (each a prescribed event ) happens during the term of an authority— the holder of the authority becomes aware of a change in circumstances that prevents the holder complying with the Act or a condition of the authority; a change in the holder’s physical health if the holder of the authority is an individual— the holder’s name changes; or the holder’s address changes; or the holder becomes an insolvent under administration; if the holder of the authority is a corporation— there is a change to the corporation’s executive officers; or the corporation becomes an externally administered corporation; if the holder of the authority is a corporation other than a listed corporation—there is a change to the corporation’s shareholders; if the authority is not a security sensitive authority or the holder of the authority is a corporation—the holder is, in Queensland or elsewhere, convicted of or charged with an offence involving a prescribed activity. The holder of the authority must, as soon as practicable after the holder becomes aware the prescribed event has happened, give the chief inspector a notice about the event, unless the holder has a reasonable excuse. Maximum penalty— for a prescribed event mentioned in subsection (1) (b) (i) or (ii) —20 penalty units; or otherwise—200 penalty units. In this section— externally administered corporation means a Chapter 5 body corporate within the meaning of the Corporations Act , section 9 . s 43 amd 2019 Act No. 7 s 105 ; 2023 Act No. 23 s 247 sch 1 s 2 (1) (sec.43-ssec.1) This section applies if any of the following events (each a prescribed event ) happens during the term of an authority— the holder of the authority becomes aware of a change in circumstances that prevents the holder complying with the Act or a condition of the authority; a change in the holder’s physical health if the holder of the authority is an individual— the holder’s name changes; or the holder’s address changes; or the holder becomes an insolvent under administration; if the holder of the authority is a corporation— there is a change to the corporation’s executive officers; or the corporation becomes an externally administered corporation; if the holder of the authority is a corporation other than a listed corporation—there is a change to the corporation’s shareholders; if the authority is not a security sensitive authority or the holder of the authority is a corporation—the holder is, in Queensland or elsewhere, convicted of or charged with an offence involving a prescribed activity. (sec.43-ssec.2) The holder of the authority must, as soon as practicable after the holder becomes aware the prescribed event has happened, give the chief inspector a notice about the event, unless the holder has a reasonable excuse. Maximum penalty— for a prescribed event mentioned in subsection (1) (b) (i) or (ii) —20 penalty units; or otherwise—200 penalty units. (sec.43-ssec.3) In this section— externally administered corporation means a Chapter 5 body corporate within the meaning of the Corporations Act , section 9 .