Division 7Other duties

Division 7—Other duties

30 Notice of MSO activity in relation to MSO product

(1) A regulated entity must give the Secretary a written notice in accordance with subsection (2) in the following situations:

(a) the entity is not subject to the minimum stockholding obligation and intends to undertake an MSO activity that may result in paragraph 10(1)(b) applying to the entity in relation to an MSO product (section 10 deals with triggering the minimum stockholding obligation);

(b) the entity is subject to the minimum stockholding obligation in relation to an MSO product and intends:

(i) to undertake another MSO activity in relation to the product; or
(ii) to cease undertaking an MSO activity in relation to the product in circumstances in which section 31 (notice of intention to cease all MSO activities in relation to MSO product) does not apply;

(c) a situation prescribed by the rules.

Civil penalty: 50 penalty units.

(2) The notice must: (a) set out details of the situation to which the notice relates; and (b) set out any matters that might affect the entity’s capacity to meet the minimum stockholding obligation in relation to an MSO product; and (c) be in accordance with any other requirements prescribed by the rules; and (d) be given to the Secretary within the period (if any) prescribed by the rules for the situation.

Note: The Secretary may require further information in relation to the notice (see section 78).