sec.53BFalse or misleading information about minimum financial requirements

### sec.53B False or misleading information about minimum financial requirements A person must not give information to the commission about a contractor’s satisfaction of minimum financial requirements if— the person knows the information is false or misleading; or the information is false or misleading and the person did not take reasonable steps to make sure that the information was not false or misleading. Maximum penalty—100 penalty units or 2 years imprisonment. A licensee commits an offence if— the licensee gives another person, other than the commission, MFR information in relation to the licensee for the purpose of the other person giving information to the commission; and when the MFR information is given, the licensee knows the information is false or misleading; and the MFR information is given to the commission by the other person in compliance or purported compliance with a requirement under this Act. Maximum penalty—100 penalty units or 2 years imprisonment. Subsections (1) (a) and (2) do not apply to a person if, when giving the information to the commission or other person (each a recipient ), the person— informs the recipient, to the best of the person’s ability, how the information is false or misleading; and gives the correct information to the recipient if the person has, or can reasonably obtain, the correct information. In this section— MFR information , in relation to a licensee, means information relating to the licensee’s satisfaction of minimum financial requirements. s 53B ins 1999 No. 43 s 27 amd 2007 No. 47 s 27 ; 2013 No. 38 s 14 sch 1 ; 2017 No. 43 s 269 ; 2020 No. 24 s 138 (sec.53B-ssec.1) A person must not give information to the commission about a contractor’s satisfaction of minimum financial requirements if— the person knows the information is false or misleading; or the information is false or misleading and the person did not take reasonable steps to make sure that the information was not false or misleading. Maximum penalty—100 penalty units or 2 years imprisonment. (sec.53B-ssec.2) A licensee commits an offence if— the licensee gives another person, other than the commission, MFR information in relation to the licensee for the purpose of the other person giving information to the commission; and when the MFR information is given, the licensee knows the information is false or misleading; and the MFR information is given to the commission by the other person in compliance or purported compliance with a requirement under this Act. Maximum penalty—100 penalty units or 2 years imprisonment. (sec.53B-ssec.3) Subsections (1) (a) and (2) do not apply to a person if, when giving the information to the commission or other person (each a recipient ), the person— informs the recipient, to the best of the person’s ability, how the information is false or misleading; and gives the correct information to the recipient if the person has, or can reasonably obtain, the correct information. (sec.53B-ssec.4) In this section— MFR information , in relation to a licensee, means information relating to the licensee’s satisfaction of minimum financial requirements. - (a) the person knows the information is false or misleading; or - (b) the information is false or misleading and the person did not take reasonable steps to make sure that the information was not false or misleading. - (a) the licensee gives another person, other than the commission, MFR information in relation to the licensee for the purpose of the other person giving information to the commission; and - (b) when the MFR information is given, the licensee knows the information is false or misleading; and - (c) the MFR information is given to the commission by the other person in compliance or purported compliance with a requirement under this Act. - (a) informs the recipient, to the best of the person’s ability, how the information is false or misleading; and - (b) gives the correct information to the recipient if the person has, or can reasonably obtain, the correct information.