(1) A person commits an offence if:
(a) the person is the holder of a red ASIC, grey ASIC, VIC or TAC; and
(b) the ASIC, VIC or TAC has been lost, stolen or destroyed; and
(c) the holder of the ASIC, VIC or TAC knows about the loss, theft or destruction; and
(d) the holder does not, within 7 days of becoming aware of the loss, theft or destruction, give the issuing body:
(i) a copy of a police report, or other information issued by the police, regarding the theft; or
(ii) a statutory declaration setting out the circumstances of the loss or destruction.
(2) Strict liability applies to paragraph (1)(d).
(3) Subregulation (1) does not apply if the ASIC, VIC or TAC has been destroyed by the issuer that issued it.