Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1153

(1)

Within one business day after the happening of an event constituting a contravention of a condition of a licence held by a corporation, the licensee shall give to:

(a)

the Commission; and

(b)

each futures organisation of which the licensee is a member;

a written notice setting out particulars of the event.

(2)

It is a defence to a prosecution for failing to give a particular notice to a person as required by this section if it is proved that:

(a)

when the requirement arose, the defendant was unaware of the event that gave rise to the requirement; and

(b)

the defendant:

(i)

did not become aware of the event before the date of the information; or

(ii)

did become so aware before that date but gave the notice to that person as soon as reasonably practicable after becoming so aware.