151ZBRequirement to notify changes in control of person who gave undertaking

#### 151ZB Requirement to notify changes in control of person who gave undertaking Notification by person who gave undertaking (1) If: (a) a functional separation undertaking given by a person (the first person) is in force; and (b) the first person becomes aware that: (i) a person who was not in a position to exercise control of the first person has become in a position to exercise control of the first person; or (ii) a person who was in a position to control the first person has ceased to be in that position; the first person must: (c) notify the ACCC, in writing, of that event; and (d) do so as soon as practicable, but not later than 10 business days, after becoming so aware. > Note: See section 154. (2) The notice must be in a form approved, in writing, by the ACCC. Notification by controller of person who gave undertaking (3) If: (a) a functional separation undertaking given by a person (the first person) is in force; and (b) another person becomes aware that the other person is in a position to exercise control of the first person; the other person must: (c) notify the ACCC, in writing, of that position; and (d) do so as soon as practicable, but not later than 10 business days, after becoming so aware. > Note: See section 154. (4) The notice must be in a form approved, in writing, by the ACCC. Ancillary contraventions (5) A person must not: (a) aid, abet, counsel or procure a contravention of subsection (1) or (3); or (b) induce, whether by threats or promises or otherwise, a contravention of subsection (1) or (3); or (c) be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (1) or (3); or (d) conspire with others to effect a contravention of subsection (1) or (3). Civil penalty provisions (6) Subsections (1), (3) and (5) are civil penalty provisions. > Note: Part 31 provides for pecuniary penalties for breaches of civil penalty provisions.