45Register of forfeitures and surrenders to be kept

45 Register of forfeitures and surrenders to be kept

45 Register of forfeitures and surrenders to be kept

(1) A loan fund company:

(a) shall:

(i) if it is a company within the meaning of the Companies (New South Wales) Code keep at the place at which the register of members is kept,

(ii) if it is a recognised company or a foreign company and keeps a branch register in New South Wales of members who are resident in New South Wales, keep at the place where that branch register is kept, or

(iii) if it is a recognised company or a foreign company to which subparagraph (ii) does not apply, keep at its principal or registered office in New South Wales,

a register of forfeitures and surrenders of options and shares, and

(b) shall, within 7 days after the date on which any option is or any shares are forfeited or surrendered to the company in accordance with section 42 or 43, as the case may be, enter in that register:

(i) the name of the person whose option was, or shares were, forfeited or surrendered and such other particulars with respect to that person as are prescribed, and

(ii) such particulars with respect to that option or those shares as are prescribed,

in the order in which the forfeiture or surrender occurred.

Maximum penalty: 5 penalty units and, in the case of a continuing offence, a further penalty not exceeding 0.5 penalty unit for each day during which the offence continues.

(2) The register kept by a loan fund company under subsection (1) shall be evidence of any matters entered in it as required or authorised by or under this Act.

(3) Any member and any person whose option has, or shares have, been forfeited or surrendered to a loan fund company under section 42 or 43, as the case may be, without payment of any fee, and any other person, on the payment of a fee determined by the company, being a fee not exceeding the maximum amount prescribed for the purpose of this subsection, may inspect the register kept by the company under subsection (1) at any time during which the register of members or, if the company keeps a branch register in New South Wales of members who are resident in New South Wales, that register, is open for inspection and may make copies of, or take extracts from, the register so kept.