(1) If a person who was not a foreign stakeholder in a particular Australian media company becomes a foreign stakeholder in the company at a particular time, the person must, within 30 days after that time, notify the ACMA in writing of:
(a) the person's name; and
(b) the circumstances that resulted in the person becoming a foreign stakeholder in the company; and
(c) the person's company interests in the company; and
(d) the method used to determine those company interests; and
(e) the reason why the person is a foreign person; and
(f) the designated information relating to the person; and
(g) such other information (if any) relating to the person as is specified under subsection (2).
(2) The ACMA may, by legislative instrument, specify information for the purposes of paragraph (1)(g).
Civil penalty provision
(3) Subsection (1) is a civil penalty provision.
(4) A person who contravenes subsection (1) commits a separate contravention of that subsection in respect of each day (including a day of the making of a relevant civil penalty order or any subsequent day) during which the contravention continues.
Designated infringement notice provision
(5) Subsection (1) is a designated infringement notice provision.
(6) A person is not required to notify information under subsection (1) if the information might tend to incriminate the person or expose the person to a penalty.