continues in force subject to subsection (3).

(2) The company must notify ASIC as soon as practicable if it:

(a)

breaches a condition of the licence; or

(b)

pursues objects or purposes that would have prevented it being granted the licence; or

(c)

applies its profits or other income to promote objects or purposes that would have prevented it being granted the licence; or

(d)

pays a dividend to its members; or

(e)

modifies its constitution to allow it to do anything set out in paragraphs (a) to (d).

(3) ASIC may revoke the company's licence if the company does anything set out in paragraphs (2)(a) to (e).