46E
In forceNo exemption certificates to be issued to corporation for 5 years if Minister’s request not complied with
Part 5Statements, certificates and assessments
Division 1AExemption certificates
46E No exemption certificates to be issued to corporation for 5 years if Minister’s request not complied with
(1)
This section applies if:
(a)
a corporation is given a request under subsection 46D(2) or (4) at a particular time (the request time); and
(b)
the corporation is capable of complying with the request; and
(c)
the corporation refuses or fails to comply with the request; and
(d)
the Minister notifies the Regulator, in writing, that the Minister considers that the non‑compliance is significant.
(2)
No exemption certificates are to be issued to the corporation in relation to the activity for:
(a)
the first year that begins after the request time; and
(b)
any of the next 4 years after that year.
This Act’s bill:Explanatory memorandumSecond reading speech
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