Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999
34After subsection 16B(1)
Start here
Get a plain-English read of 34
Turn the raw legal text into a practical explanation grounded in Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999.
34 After subsection 16B(1)
(1A) A person who is or has been an auditor of an ADI, an authorised NOHC, or a subsidiary of an ADI or an authorised NOHC, is guilty of an offence if:
(a) under subsection (1), APRA requires the person to provide information; and
(b) the person fails to comply with the requirement; and
Note 2: Subsection 4B(2) of the Crimes Act 1914 allows a court to impose a fine instead of, or in addition to, a term of imprisonment. The maximum fine a court may impose is worked out as provided in that subsection.
Note 3: 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 maximum fine worked out as mentioned in Note 2.