123CMS licensee to inform Minister of changed circumstances

#### 123 CMS licensee to inform Minister of changed circumstances 123 CMS licensee to inform Minister of changed circumstances > In addition to the requirement to notify the Minister of a change referred to in clause 122, if a change of a kind specified in the Table to this clause occurs in the circumstances that existed in relation to a CMS licensee at the time the CMS licensee was granted a CMS licence, the CMS licensee must notify the Minister in writing, not later than 14 days after the change occurs, of the particulars relating to the change that are specified in the Table in respect of that kind of change. > > Table > > | Kinds of change | Particulars to be notified | > | Any change in a direct or indirect financial interest held by the CMS licensee or a close associate of the CMS licensee in any business or enterprise (including the acquisition or disposal of such an interest). | Particulars of the interest both before and after the change. | > | Any other business or enterprise commencing to have the same registered office as the CMS licensee. | Particulars of the name of the other business or enterprise and the activities in which it engages. | > | The CMS licensee commencing to carry on any other business or enterprise or the appointment of a person to carry on any other business or enterprise on the CMS licensee’s behalf. | Particulars of the activities in which the business or enterprise engages, particulars of the place at which the business or enterprise carries on the activities and particulars of the name of the business or enterprise and the name of any person appointed to carry on the business or enterprise. | > | The commencement, settlement, discontinuance or final determination of civil or criminal proceedings to which the CMS licensee, a close associate of the CMS licensee or a key employee is a party. | Particulars of the nature of the proceedings, the date of the commencement, settlement, discontinuance or final determination, the terms of the settlement (unless the terms of the settlement are prohibited from being disclosed) or result of the determination and, in the case of civil proceedings, the name and address of each other party to the proceedings. | > | The obtaining of any judgment against the CMS licensee or a close associate of the CMS licensee, the creation of any charge over property of the CMS licensee or close associate of the CMS licensee, or the repossession of any property of the CMS licensee or close associate of the CMS licensee. | Particulars of the terms of the judgment or charge, the reasons for and circumstances of the repossession and a description of the property affected. | > | The amendment of a tax assessment relating to the CMS licensee under a law of the Commonwealth. | Particulars of the amendment. | > | Any change in the key employees employed by or on behalf of the CMS licensee. | Particulars of the name and address of the person who becomes or ceases to be a key employee and the date on which the person becomes or ceases to be a key employee. | > | Any change in the close associates of the CMS licensee. | Particulars of the name and address of any person who commences or ceases to be a close associate of the CMS licensee, the date of the change and the nature of the relationship between the close associate and the CMS licensee. | > | Each increase of more than $650,000 in the debts of the CMS licensee or a close associate of the CMS licensee. | Particulars of to whom the debt is owed, the amount of the debt as increased, the amount of the increase and the reason for the increase. | > | Any failure by the CMS licensee or a close associate of the CMS licensee to make due payments under a loan or other financing arrangement. | Particulars of the loan or financing arrangement, the amount due and unpaid and the reason for the failure to pay. | > | The commencement of the winding up of a business or enterprise of the CMS licensee or a close associate of the CMS licensee or the placement of such a business or enterprise under administration. | Particulars of the business or enterprise and the date on which the winding up or administration commenced. | > | The CMS licensee or a close associate of the CMS licensee entering into a compromise or scheme of arrangement with the CMS licensee’s or close associate’s creditors. | Particulars of the date on which the compromise or scheme of arrangement was entered into and the terms of the compromise or scheme. | > | The appointment of a manager or receiver for a business or enterprise of the CMS licensee or a close associate of the CMS licensee. | Particulars of the date and the terms of the appointment. |