98CFailure to notify Treasurer of taking of action specified in no objection notification

#### 98C Failure to notify Treasurer of taking of action specified in no objection notification (1) Subsection (2) applies if: (a) a person: (i) is given a no objection notification specifying one or more core Part 3 actions; or (ii) is specified in a no objection notification specifying one or more core Part 3 actions; and (b) the person takes one of those core Part 3 actions; and (c) if regulations made for the purposes of this paragraph specify requirements—those requirements are met. (2) The person must give the Treasurer a notice in accordance with subsection (3) no later than 30 days after the latest of the following days: (a) the day on which the person took the core Part 3 action; (b) the day on which the no objection notice was given; (c) if the core Part 3 action is the acquisition of an interest in a security, asset, trust or Australian land, and section 15 applies in relation to the acquisition—the day on which the person acquired the interest in a security, asset, trust or Australian land (disregarding section 15). Civil penalty: 250 penalty units. (3) The notice must: (a) describe the core Part 3 action; and (b) state the day on which it was taken; and (c) meet any other requirements specified in regulations made for the purposes of this paragraph.