Notice to produce books about credit activities or credit reporting
266 Notice to produce books about credit activities or credit reporting
ASIC may give to:
a person who engages in a credit activity (either alone or together with any other person or persons); or
a person who ASIC, on reasonable grounds, suspects has been a party to engaging in a credit activity; or
a representative, banker, lawyer or auditor of a person referred to in paragraph (a) or (b);
a written notice requiring the production to a specified ASIC member or ASIC staff member, at a specified place and time, of specified books relating to:
a credit activity engaged in by a person; or
the character or financial situation of, or a business carried on by, a person who engages, or has engaged, in a credit activity.
Failure to comply with a requirement made under this subsection is an offence (see section 290).
ASIC may give to:
a Part 3‑2CA body that is, or has been, subject to a requirement under Part 3‑2CA (other than Division 4), either alone or together with any other person or persons; or
a representative, banker, lawyer or auditor of a person referred to in paragraph (a);
a written notice requiring the production to a specified ASIC member or ASIC staff member, at a specified place and time, of specified books relating to:
information, or a statement, to which that requirement relates; or
the character or financial situation of, or a business carried on by, a person who is, or has been, subject to that requirement.
Part 3‑2CA is about mandatory comprehensive credit reporting.
Failure to comply with a requirement made under this subsection is an offence (see section 290).
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