Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person contravenes this section if:
(a) the person is a licence holder; and
(b) there is a change in control of the licence holder; and
(c) either:
(i) the Registrar has not approved the change in control; or
(ii) the Registrar has approved the change in control, but the change in control took effect after the end of the approval period for the change in control; and
(d) the licence holder knows or ought reasonably to know the change in control has taken effect; and
(e) the licence holder does not notify the Registrar of the change in control within 30 days of the change taking effect.
Civil penalty provision
(2) A person is liable to a civil penalty if the person contravenes subsection (1).
Civil penalty: 480 penalty units.
(3) Subsection 93(2) of the Regulatory Powers Act does not apply in relation to a contravention of subsection (2).