Notice of change of licensee details
48 Notice of change of licensee details
Within 14 days after a change happens in the structure or nature of the entity that holds a licence, the licensee must give the chief executive written notice of the details of the change.Examples of change to be notified—
1 a change in the directors of a licensee that is a corporation
2 a change in the beneficial ownership of a licensee that is a corporationMaximum penalty—100 penalty units.
The chief executive, by written notice, may ask the licensee to give further information or documents relevant to the change within the time stated in the notice.
The licensee must give the further information or documents to the chief executive within the time stated in the notice, unless the licensee has a reasonable excuse for not giving the further information or documents.Maximum penalty—100 penalty units.
This Act’s bill:Explanatory memorandum
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