Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The CEO may give a nominee of a participant a written notice that requires the nominee to inform the Agency if:
(a) either:
(i) an event or change of circumstances happens; or
(ii) the nominee becomes aware that an event or change of circumstances is likely to happen; and
(b) the event or change of circumstances is likely to affect:
(i) the ability of the nominee to act as the plan nominee or correspondence nominee of the participant (as the case may be); or
(ii) the ability of the CEO to give notices to the nominee under this Act; or
(iii) the ability of the nominee to comply with notices given to the nominee by the CEO under this Act.
(2) A notice under subsection (1) must specify:
(a) how the nominee is to inform the Agency; and
(b) the period within which the nominee is to inform the Agency, which must be a period of at least 14 days beginning on whichever of the following days is applicable:
(i) the day on which the event or change of circumstances happens;
(ii) the day on which the nominee becomes aware that the event or change of circumstances is likely to happen.
(3) A notice under subsection (1) is not ineffective only because it does not comply with paragraph (2)(a).
(4) This section extends to:
(a) acts, omissions, matters and things outside Australia, whether or not in a foreign country; and
(b) all persons, irrespective of their nationality or citizenship.