Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an entity is, or will be, a reporting entity for a critical infrastructure asset at the end of the grace period for the asset.
Note: Once an entity has given information in relation to an asset under this section, the reporting entity for the asset must comply with section 24 (ongoing obligation to give information and notify of events).
(2) The entity must give the Secretary the following information in accordance with subsection (3):
(a) if the reporting entity is the responsible entity for the asset--the operational information in relation to the asset;
(b) if the reporting entity is a direct interest holder in relation to the asset--the interest and control information in relation to the entity and the asset.
Note 1: Persons other than the entity may give the information (see section 30 (agents may give notice or information) and Division 2 of Part 7 (treatment of certain entities)).
Note 2: For an exception to this section, see section 25 (information that is not able to be obtained).
Civil penalty: 50 penalty units.
(3) The information must be given:
(a) in the approved form; and
(b) by the later of:
(i) the end of the grace period for the asset; and
(ii) the end of 30 days after the day the entity becomes a reporting entity for the asset.