Failure to notify taking of action related to exemption certificate
98D Failure to notify taking of action related to exemption certificate
Subsection (2) applies if:
an exemption certificate relates to one or more exempt core Part 3 actions; and
the person to whom the exemption certificate relates takes one of those exempt core Part 3 actions; and
if regulations made for the purposes of this paragraph specified requirements—those requirements are met.
The person must give the Treasurer a notice in accordance with subsection (3) no later than 30 days after the latest of the following days:
the day on which the person took the exempt core Part 3 action;
if the exempt core Part 3 action is the acquisition of an interest in a security, asset, trust or Australian land, and section 15 applies in relation to the acquisition—the day on which the person acquired the interest in a security, asset, trust or Australian land (disregarding section 15).
Civil penalty: 250 penalty units.
The notice must:
describe the exempt core Part 3 action; and
state the day on which it was taken; and
meet any other requirements specified in regulations made for the purposes of this paragraph.
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