Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 922M

Failing to comply with obligation to notify ASIC

  (1)   A person contravenes this subsection if:

  (a)   the person is required to cause a notice to be lodged under a provision referred to in subsection   922L(1); and

  (b)   the person fails to cause the notice to be lodged in accordance with that provision.

  (2)   However, subsection   (1) does not apply if:

  (a)   the person fails to cause the notice to be lodged in accordance with section   922D; and

  (b)   the only reason the person fails to cause the notice to be lodged in accordance with that section is because the information referred to in paragraph   922F(1)(h), (l) or (m) is not included in the notice; and

  (c)   subsection   922F(3) provides that the notice does not need to include that information.

Note:   In criminal proceedings, a defendant bears an evidential burden in relation to the matter in subsection   (2) (see subsection   13.3(3) of the Criminal Code ).

Fault - based offence

  (3)   A person commits an offence if the person contravenes subsection   (1).

  (4)   Subsection   4K(2) of the Crimes Act 1914 does not apply to subsection   (1) of this section.

Note:   A person may commit an offence or contravene a civil penalty provision if the person gives false or misleading information (see section   1308 of this Act and section   137.1 of the Criminal Code ).

Civil liability

  (5)   A person contravenes this subsection if the person contravenes subsection   (1).

Note:   This subsection is a civil penalty provision (see section   1317E).