CTHRepealedAct
Securities Industry Act 1980
52Licensee to notify breach of licence condition
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##### 52 Licensee to notify breach of licence condition
(1) Within one day after the happening of an event constituting a contravention of a condition of a licence, the licensee shall give to the Commission a written notice setting out particulars of the event.
Penalty: $5,000 or imprisonment for 1 year, or both.
(3) In a prosecution of a person for failing to give a notice to the Commission under this section, it is a defence if the defendant establishes that:
(a) at the time when he was required to give the notice he was not aware of a fact or occurrence that gave rise to the requirement; and
(b) he did not become aware of that fact or occurrence before the date of the information or, if he became so aware before that date, he gave the notice as soon as reasonably practicable after the day on which he became so aware.