36Provision of information to the Commissioner of Taxation

36 Provision of information to the Commissioner of Taxation

(1) The Secretary must advise the Commissioner of Taxation as soon as possible after the end of a financial year of the following information in respect of a FLIC:

(a) the name and registered address of the FLIC;

(b) the details of any breach of conditions by the FLIC during the year;

(c) the details of a decision taken by the Minister under section 32 in respect of the breach;

(d) all other matters that:

(i) the Secretary and the Commissioner of Taxation agree are to be provided; and

(ii) are necessary to the administration of Subdivision 375‑H of the Income Tax Assessment Act 1997.

(2) The Secretary must advise the Commissioner of Taxation as soon as possible after the end of the 1998‑99 and the 1999‑2000 financial years of the following information in respect of a FLIC:

(a) the number of shares issued during the year by the FLIC; and

(b) the names and addresses of the shareholders to whom the shares were issued and the amount paid by each shareholder for the shares.

(3) The Secretary’s advice must be in writing.