Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999
16WLodging of consequential amendments with ASIC after approval by APRA
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16W Lodging of consequential amendments with ASIC after approval by APRA
(1) This section applies if, under subsection 16U(3) or subsection 16V(4), APRA approves consequential amendments of the constitution of a company pursuant to an application by the company. (2) The company must lodge a copy of the consequential amendments with ASIC in accordance with any requirements determined by ASIC. (3) The company is guilty of an offence if it does not comply with subsection (2) within 14 days after the day on which APRA approved the consequential amendments.
Note: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.