98DFailure to notify taking of action related to exemption certificate

98D Failure to notify taking of action related to exemption certificate

(1) Subsection (2) applies if: (a) an exemption certificate relates to one or more exempt core Part 3 actions; and (b) the person to whom the exemption certificate relates takes one of those exempt core Part 3 actions; and (c) if regulations made for the purposes of this paragraph specified 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 exempt core Part 3 action; (b) if the exempt 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 exempt 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.