Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a person if the Regulator has reason to believe that information (the compellable information ) relating to whether this Act or the associated provisions has been complied with is in a person's possession, custody or control (whether held electronically or in any other form).
(2) The Regulator may, in writing, require the person to give specified compellable information to the Regulator:
(a) within a specified period of time; and
(b) in a specified form or manner.
(3) The person must not fail to comply with a requirement under this section.
Civil penalty: 50 penalty units.
(4) The person must not, in purported compliance with a requirement under this section, give to the Regulator information that is false or misleading in a material particular.
Civil penalty: 60 penalty units.
(5) Subsection (3) does not apply to the extent that the person has a reasonable excuse. However, a person does not have a reasonable excuse merely because the information in question is:
(a) of a commercial nature; or
(b) subject to an obligation of confidentiality arising from a commercial relationship; or
(c) commercially sensitive.
(6) Subsection (3) does not apply in relation to compellable information if giving the information might tend to incriminate the person or expose the person to a penalty.