Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Act applies to an entity that is a reporting entity or a reporting nominee that is an unincorporated association or body of persons with the changes set out in this section.
(2) An obligation that would otherwise be imposed on the association or body of persons by this Act is imposed on each member of the committee of management of the association or body instead, but may be discharged by any of those members.
(3) A civil penalty provision of this Act that would otherwise have been contravened by the unincorporated association or body of persons is taken to have been contravened by each member of the committee of management of the association or body, at the time the provision was contravened, who:
(a) did the relevant act or made the relevant omission; or
(b) aided, abetted, counselled or procured the relevant act or omission; or
(c) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the member).