sec.42Holder must give scheme manager notice if changed holder

sec.42 Holder must give scheme manager notice if changed holder

If the estimated rehabilitation cost for an authority is equal to or more than $100,000, the holder of the authority must give the scheme manager a notice under this section if a changed holder event happens in relation to the authority. Maximum penalty—100 penalty units. The notice must— state the details of the changed holder event; and include the other information prescribed by regulation. The notice must be given within 10 business days after— for a changed holder event of a type mentioned in section 31A (1) (a) —the application for approval of the prescribed dealing is made; or for a changed holder event of a type mentioned in section 31A (1) (b) —the notice of the notifiable dealing is given; or for a changed holder event of a type mentioned in section 31A (1) (c) or (d) —the event happens. If a notice under subsection (1) relates to a changed holder event of a type mentioned in section 31A (1) (c) or (d) , the scheme manager must give the chief executive (resources) a copy of the notice within 10 business days after the scheme manager receives the notice. s 42 sub 2020 No. 14 s 102 amd 2024 No. 33 s 110 (sec.42-ssec.1) If the estimated rehabilitation cost for an authority is equal to or more than $100,000, the holder of the authority must give the scheme manager a notice under this section if a changed holder event happens in relation to the authority. Maximum penalty—100 penalty units. (sec.42-ssec.2) The notice must— state the details of the changed holder event; and include the other information prescribed by regulation. (sec.42-ssec.3) The notice must be given within 10 business days after— for a changed holder event of a type mentioned in section 31A (1) (a) —the application for approval of the prescribed dealing is made; or for a changed holder event of a type mentioned in section 31A (1) (b) —the notice of the notifiable dealing is given; or for a changed holder event of a type mentioned in section 31A (1) (c) or (d) —the event happens. (sec.42-ssec.4) If a notice under subsection (1) relates to a changed holder event of a type mentioned in section 31A (1) (c) or (d) , the scheme manager must give the chief executive (resources) a copy of the notice within 10 business days after the scheme manager receives the notice.

• (a) state the details of the changed holder event; and
• (b) include the other information prescribed by regulation.
• (a) for a changed holder event of a type mentioned in section 31A (1) (a) —the application for approval of the prescribed dealing is made; or
• (b) for a changed holder event of a type mentioned in section 31A (1) (b) —the notice of the notifiable dealing is given; or
• (c) for a changed holder event of a type mentioned in section 31A (1) (c) or (d) —the event happens.