Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to the following persons:
(a) an applicant for approval of a proposed arrangement under section 150, and any other person who is to manage or control or carry out export operations in accordance with the proposed arrangement;
(b) the holder of an approved arrangement, and any other person who manages or controls or carries out export operations covered by the approved arrangement;
if the person is not a kind of person who is required by rules made for the purposes of section 373 to be a fit and proper person for the purposes of this Chapter.
(2) If a person to whom this section applies is convicted of an offence against, or ordered to pay a pecuniary penalty under, any Australian law for a contravention involving fraud or dishonesty, the person must notify the Secretary, in writing, of the conviction or order as soon as practicable after the person is convicted or the order is made.
Note 1: If a person referred to in paragraph (1)(a) or (b) is a kind of person who is required by rules made for the purposes of section 373 to be a fit and proper person for the purposes of this Chapter, the person is required to notify the Secretary of certain matters under subsection 374(5).
Note 2: If this section applies to the holder of an approved arrangement and the holder fails to comply with this subsection, the Secretary may suspend or revoke the approved arrangement (see paragraphs 171(1)(k) and 179(1)(k)).
(3) A person is liable to a civil penalty if:
(a) the person is required to notify the Secretary of a conviction or order under subsection (2); and
(b) the person fails to comply with the requirement.
Civil penalty: 60 penalty units.