61Holder of export licence must notify the Minister of certain events

#### 61 Holder of export licence must notify the Minister of certain events (1) The holder of an export licence must notify the Minister, in writing, as soon as practicable after any of the following events occurs: (a) there is a change in the holder’s business structure; (b) if the holder is an individual—the individual enters into a personal insolvency agreement under Part X of the Bankruptcy Act 1966; (c) if the holder is a corporation—the corporation: (i) enters into administration (within the meaning of section 435C of the Corporations Act 2001); or (ii) is to be wound up (whether by a court or voluntarily); (d) there is a change in the trading name, business address or contact details of the holder; (e) an event prescribed by the rules. (2) A person contravenes this subsection if: (a) the person is required by subsection (1) to notify the Minister of an event; and (b) the person fails to comply with the requirement. Strict liability offence (3) A person commits an offence of strict liability if the person contravenes subsection (2). Penalty: 60 penalty units. Civil penalty provision (4) A person is liable to a civil penalty if the person contravenes subsection (2). Civil penalty: 250 penalty units.