(1) A licensed trustee company commits an offence if it does not maintain a register of investments for each common fund in accordance with subregulation (2).
Penalty: 500 penalty units.
(2) The register must contain:
(a) a record identifying each investment made by the common fund; and
(b) details of amounts held to the credit of the common fund.
Note: For other obligations relating to common funds: see section 601SCB of the Act.
(3) A person commits an offence if the person is involved in a contravention of subregulation (1) by a licensed trustee company.
(a) for an individual--50 penalty units; and
(b) for a body corporate--500 penalty units.