Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) within 2 years before the commencement day, an event of a kind mentioned in subsection 35-1(1) of the Insolvency Practice Schedule (Corporations) occurs in relation to an old Act registrant; and
(b) the old Act registrant has not already informed ASIC in writing of the event before the commencement day;
the old Act registrant must lodge with ASIC a notice, in the approved form, relating to the event.
(2) The notice must be lodged:
(a) if the old Act registrant is or could reasonably be expected to be aware of the event on or before the commencement day--within one month after the commencement day; or
(b) if paragraph (a) is not satisfied, but the old Act registrant is or could reasonably be expected to be aware of the event after the commencement day--within one month after the first day on which the old Act registrant is or could reasonably be expected to be aware of the event.
(3) A person commits an offence if:
(a) the person is subject to a requirement under subsection (1) within the period specified in subsection (2); and
(b) the person intentionally or recklessly fails to comply with the requirement within that period.