29JCB
CurrentHolding a controlling stake in an RSE licensee without approval
Volume 1Parts 1 to 15 (sections 1 to 127)
Part 2ALicensing of trustees and groups of individual trustees
Division 9Offences and self‑incrimination
29JCB Holding a controlling stake in an RSE licensee without approval
(1)
A person commits an offence if:
(a)
the person holds a controlling stake in an RSE licensee; and
(b)
the person does not have approval under section 29HD to hold a controlling stake in the RSE licensee.
Penalty: 400 penalty units for each day on which the person holds a controlling stake in the RSE licensee without approval.
(2)
Strict liability applies to subsection (1).
This Act’s bill:Second reading speech
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