Queensland Numbered Acts

QUEEN'S WHARF BRISBANE ACT 2016 - SECT 40

40 Requirement to comply with disclosure notice

(1) A person given a disclosure notice (the recipient) must, within 2 business days after receiving the notice, give the relevant entity a written notice disclosing—

(a) full details of—

(i) the recipient’s relevant interest in interests in the relevant entity; and

(ii) the circumstances giving rise to the relevant interest; and

(b) the name and address of each other person who has a relevant interest in any of the interests and full details of—

(i) the nature and extent of the relevant interest; and

(ii) the circumstances giving rise to the relevant interest; and

(c) the name and address of each other person who has given the recipient instructions about—

(i) the acquisition or disposal of the interests; or

(ii) the exercise of any voting or other rights attached to the interests; or

(iii) any other matter relating to the interests; and

(d) full details of any instructions mentioned in paragraph (c), including the date on which they were given.

Penalty—

Maximum penalty—40 penalty units.

(2) However, a matter mentioned in subsection (1)(b), (c) or (d) need only be disclosed to the extent to which it is known to the recipient.

(3) Subsection (2) places an evidential burden on the defendant to show the extent to which the matter was not known to the defendant.

(4) The recipient is not required to comply with subsection (1) if the recipient proves that the giving of the disclosure notice is vexatious.