Commonwealth Consolidated Acts

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Minister's power to require special report

             (1)  The Minister may give a CS facility licensee a written notice requiring the licensee to give ASIC a special report on specified matters. ASIC must give the report to the Minister.

             (2)  The notice may also require the licensee to give ASIC an audit report on the special report. The Minister must nominate to prepare the report:

                     (a)  ASIC; or

                     (b)  a specified person or body that is suitably qualified.

             (3)  The licensee must give the special report, and audit report (if any), to ASIC within the time required by the notice.

Note:          Failure to comply with this subsection is an offence (see subsection 1311(1)).

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