Financial and business records
56 Financial and business records
S. 56(1) substituted by No. 85/2003 s. 14.
A provider of prescribed services must keep financial and business records—
in respect of the provision of channels for use by shipping that are separate from financial and business records for other prescribed services; and
in respect of prescribed services that are separate from any financial and business records for other aspects of any business conducted by the provider of prescribed services.
S. 56(2) amended by No. 62/2001 s. 86(1)(d).
The financial and business records must be prepared and maintained in accordance with guidelines made by the Commission.
S. 56(3) amended by No. 62/2001 s. 86(1)(d).
The provider of prescribed services must make the financial and business records available to the Commission when required to do so by notice in writing given by the Commission.
A requirement under subsection (3) must identify the information or document required and must specify—
by when the requirement must be complied with; and
S. 56(4)(b) amended by No. 62/2001 s. 86(1)(d).
in what form the information or copy of the document is to be given to the Commission; and
that the requirement is made under this section and must include a copy of this section and section 57.
S. 56(5) amended by No. 62/2001 s. 86(3)(a).
A person who without lawful excuse fails to comply with any requirement made under this section is guilty of an offence.
- 120 penalty units.
It is a lawful excuse for the purposes of subsection (5) that compliance may tend to incriminate the person or make the person liable to a penalty for any other offence.
S. 56(7) amended by No. 62/2001 s. 86(1)(d) (3)(b).
A person must not, in purported compliance with a requirement, knowingly give the Commission information that is false or misleading.
- 120 penalty units or imprisonment for 6 months.
S. 56(8) amended by No. 62/2001 s. 86(3)(c).
A person must not—
threaten, intimidate or coerce another person; or
take, threaten to take, incite or be involved in any action that causes another person to suffer any loss, injury or disadvantage—
because that other person complied, or intends to comply, with a requirement made under this section.
- 120 penalty units.
S. 56(9) amended by No. 62/2001 s. 86(1)(d).
A person is not liable in any way for any loss, damage or injury suffered by another person because of the giving in good faith of a document or information to the Commission under this section.
S. 56(10) amended by No. 62/2001 s. 86(1)(h), repealed by No. 41/2021 s. 136.
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