Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The regulations may make provision for and in relation to empowering the Regulator to open accounts within the Registry.
(2) An account opened under regulations made for the purposes of subsection (1) is to be opened in the name of a particular person.
(3) An account kept in the name of a person is to be known as a Registry account of the person.
(4) Each Registry account is to be identified by a unique number, to be known as the account number of the Registry account.
(5) A person may have 2 or more Registry accounts.
(6) Regulations made for the purposes of subsection (1) may make provision for or in relation to any or all of the following matters:
(a) requests to open Registry accounts;
(b) the approval by the Regulator of a form for such a request;
(c) information that must accompany such a request;
(d) the fee (if any) that must accompany such a request;
(e) verification by statutory declaration of statements in such a request;
(f) empowering the Regulator:
(i) to require a person who makes such a request to give the Regulator further information in connection with such a request; and
(ii) if the person breaches the requirement--to refuse to consider the request, or to refuse to take any action, or any further action, in relation to the request.
(7) Subsection (6) does not limit subsection (1).
(8) A fee mentioned in paragraph (6)(d) must not be such as to amount to taxation.
Note 1: See also section 11 (identification procedures).
Note 2: See also section 16 (unilateral closure of
Registry accounts).