20Power of Regulator to obtain information

20 Power of Regulator to obtain information

20 Power of Regulator to obtain information

(1) This section applies if the Regulator has reasonable grounds to believe that a person is capable of giving information, providing documents or giving evidence in relation to a possible contravention of this Law or that will assist to monitor or enforce compliance with this Law.

(2) The Regulator may, by written notice served on the person, require the person to do 1 or more of the following—

(a) to give the Regulator in writing signed by the person (or in the case of a body corporate, by a competent officer of the body corporate) and within the time and in the manner specified in the notice, that information of which the person has knowledge;

(b) to produce to the Regulator, in accordance with the notice, those documents;

(c) to appear before a person appointed by the Regulator on a day, and at a time and place, specified in the notice (being a day, time and place that are reasonable in the circumstances) and give either orally or in writing that evidence and produce those documents.

(3) The notice must—

(a) state that the requirement is made under this section; and

(b) contain a statement to the effect that a failure to comply with a requirement is an offence; and

(c) if the notice requires the person to provide information or documents or answer questions—

(i) contain a statement about the effect of sections 155 and 245; and

(ii) state that the person may attend with a legal practitioner.

(4) (Repealed)

(5) A person must not, without reasonable excuse, fail to comply with a requirement under this section.

Maximum penalty—

(a) in the case of an individual—$10 000;

(b) in the case of a body corporate—$50 000.

(6) Subsection (5) places an evidential burden on the accused to show a reasonable excuse.

(7) Section 155 (with any necessary changes) applies to a requirement under this section.