38Compulsory notification of trigger proposal

#### 38 Compulsory notification of trigger proposal If: (a) a person carries out a trigger proposal; and (b) the person did not, before the acquisition or before entering into the arrangement, as the case may be, give to the Minister a notice in accordance with section 17A stating the person’s intention to acquire the assets, interests, rights or benefits or to enter into the arrangement, as the case requires; and (c) either: (i) the person knew that the proposal concerned was a trigger proposal; or (ii) the person had reasonable grounds to suspect that the proposal concerned was a trigger proposal but did not make all reasonable efforts to ascertain whether it was a trigger proposal; the person commits an offence punishable on conviction by imprisonment for a period not exceeding 2 years. > Note: Subsection 4B(2) of the Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.