Commonwealth Consolidated Acts

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FINANCIAL ACCOUNTABILITY REGIME ACT 2023 - SECT 32

Events for which the Regulator must be notified

    For the purposes of paragraph   31(1)(a), the following events must be notified to the Regulator by an accountable entity:

  (a)   a person ceases to be an accountable person of the accountable entity or of a significant related entity of the accountable entity;

  (b)   an accountable person of the accountable entity, or of a significant related entity of the accountable entity, is dismissed or suspended because the person has failed to comply with one or more of the person's accountability obligations under section   21;

  (c)   the variable remuneration of an accountable person of the accountable entity, or of a significant related entity of the accountable entity, is reduced because the person has failed to comply with one or more of the person's accountability obligations under section   21;

  (d)   the accountable entity has reasonable grounds to believe that:

  (i)   the accountable entity has failed to comply with one or more of its accountability obligations under section   20 or of its key personnel obligations under section   23; or

  (ii)   an accountable person of the accountable entity, or of a significant related entity of the accountable entity, has failed to comply with one or more of the person's accountability obligations under section   21;

  (e)   a material change occurs to information that relates to an accountable person of the accountable entity, or of a significant related entity of the accountable entity, and is contained in the register established under section   40.



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