Change in control must be approved by Registrar
95 Change in control must be approved by Registrar
A person contravenes this subsection if:
there is a change in control of a licence holder; and
the person:
begins to control the licence holder; or
ceases to control the licence holder; and
either:
the Registrar has not approved the change in control; or
the Registrar has approved the change in control, but the change in control took effect after the end of the approval period for the change in control.
Contravention of this subsection is also a ground for cancellation of a licence (see paragraph 73(1)(f)).
Fault‑based offence
A person commits an offence if the person contravenes subsection (1).
Penalty: Imprisonment for 5 years or 1,200 penalty units, or both.
Civil penalty provision
A person is liable to a civil penalty if the person contravenes subsection (1).
Civil penalty: 2,400 penalty units.
Subsection (3) does not apply if the person did not know, and could not reasonably be expected to have known, that the person has begun to control, or ceased to control, the licence holder.
A defendant bears an evidential burden in relation to the matter in this subsection (see section 96 of the Regulatory Powers Act).
This Act’s bill:Explanatory memorandumSecond reading speech
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