Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The administrator of an accredited voluntary arrangement must notify the Minister, in writing, as soon as practicable after any of the following events occurs:
(a) there is a change to who the administrator of the arrangement is;
(b) an event that may affect whether the administrator is a fit and proper person;
(c) an event that hinders the ability of the arrangement to achieve its outcomes;
(d) an event prescribed by the rules.
(2) A person contravenes this subsection if:
(a) the person is required by subsection (1) to notify the Minister of an event; and
(b) the person fails to comply with the requirement.
Strict liability offence
(3) A person commits an offence of strict liability if the person contravenes subsection (2).
Penalty: 60 penalty units.
Civil penalty provision
(4) A person is liable to a civil penalty if the person contravenes subsection (2).
Civil penalty: 250 penalty units.