Nominee to inform Agency of matters affecting ability to act as nominee
83 Nominee to inform Agency of matters affecting ability to act as nominee
The CEO may give a nominee of a participant a written notice that requires the nominee to inform the Agency if:
either:
an event or change of circumstances happens; or
the nominee becomes aware that an event or change of circumstances is likely to happen; and
the event or change of circumstances is likely to affect:
the ability of the nominee to act as the plan nominee or correspondence nominee of the participant (as the case may be); or
the ability of the CEO to give notices to the nominee under this Act; or
the ability of the nominee to comply with notices given to the nominee by the CEO under this Act.
A notice under subsection (1) must specify:
how the nominee is to inform the Agency; and
the period within which the nominee is to inform the Agency, which must be a period of at least 14 days beginning on whichever of the following days is applicable:
the day on which the event or change of circumstances happens;
the day on which the nominee becomes aware that the event or change of circumstances is likely to happen.
A notice under subsection (1) is not ineffective only because it does not comply with paragraph (2)(a).
This section extends to:
acts, omissions, matters and things outside Australia, whether or not in a foreign country; and
all persons, irrespective of their nationality or citizenship.
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