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CORPORATIONS ACT 2001 - SECT 908BQ

Obligation to notify ASIC of certain matters

             (1)  A person commits an offence if:

                     (a)  the person is a benchmark administrator licensee; and

                     (b)  the licensee becomes aware of any of the following events:

                              (i)  that the licensee may no longer be able to comply with an obligation under section 908BP;

                             (ii)  that the licensee has failed to comply with an obligation under section 908BP;

                            (iii)  that a person becomes or ceases to be a director, secretary or senior manager of the licensee;

                            (iv)  that a person becomes or ceases to be a director, secretary or senior manager of a holding company of the licensee; and

                     (c)  the licensee fails to give written notice to ASIC of:

                              (i)  the event; and

                             (ii)  such related information (if any) as is prescribed by the regulations for the purposes of this subparagraph;

                            as soon as practicable after becoming aware of the event.

Penalty:  100 penalty units.

             (2)  Without limiting subparagraph (1)(b)(iii) or (iv), that subparagraph applies to the case where a person:

                     (a)  changes from one of the positions mentioned in that subparagraph to another; or

                     (b)  changes from a position mentioned in that subparagraph to a position mentioned in the other subparagraph.



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