15Obligations of accountable entities

15 Obligations of accountable entities

(1) An accountable entity must comply with each one of the following: (a) its accountability obligations under Part 3; (b) its key personnel obligations under Part 4; (c) its deferred remuneration obligations under Part 5; (d) its notification obligations under Part 6.

Note: Failure to comply with an obligation under this Chapter is a contravention of a civil penalty provision (see section 80).

(2) Subsection (1) does not apply to: (a) an accountable entity that: (i) the Minister has exempted under section 16; or (ii) is included in a class of accountable entities that the Minister has exempted under section 16; or (b) a foreign accountable entity, except to the extent that it operates a branch of the foreign accountable entity in Australia. (3) Subsection (1) does not apply to an accountable entity and an obligation to the extent that the accountable entity is not required to comply with the obligation because of subsection 17(2).