97Notification of change in control by licence holder

97 Notification of change in control by licence holder

(1) A person contravenes this section if: (a) the person is a licence holder; and (b) there is a change in control of the licence holder; and (c) either: (i) the Registrar has not approved the change in control; or (ii) the Registrar has approved the change in control, but the change in control took effect after the end of the approval period for the change in control; and (d) the licence holder knows or ought reasonably to know the change in control has taken effect; and (e) the licence holder does not notify the Registrar of the change in control within 30 days of the change taking effect. Civil penalty provision (2) A person is liable to a civil penalty if the person contravenes subsection (1).

Civil penalty: 480 penalty units.

(3) Subsection 93(2) of the Regulatory Powers Act does not apply in relation to a contravention of subsection (2).