71Requirement to provide information and records

71 Requirement to provide information and records

71 Requirement to provide information and records

(1) The Regulatory Authority may, by notice in writing given to a person, require the person to provide to the Authority such information or records (or both) as the Authority requires by the notice in connection with determining whether there has been compliance with or a contravention of this Act or the regulations or any notice issued under this Act.

(2) A person must not—

(a) fail or refuse to comply with a requirement under subsection (1), or

(b) in purported compliance with such a requirement, give information, or provide a record, that is false or misleading in a material particular.

Maximum penalty—

(a) in the case of a corporation—$250,000 and, in the case of a continuing offence, a further penalty of $30,000 for each day the offence continues, or

(b) in the case of an individual—$120,000 and, in the case of a continuing offence, a further penalty of $15,000 for each day the offence continues.