Western Australian Current Acts Western Australian Current Acts (1) In this section
—
pre-transaction decision request means a request
made under subsection (2) or (4).
(2) A person proposing
to enter into a relevant transaction may ask the Commissioner to decide
whether, if the transaction were entered into, it would be exempted.
[(3) deleted]
(4) A person proposing
to enter into a transaction may ask the Commissioner to decide whether, if the
transaction were entered into, the Commissioner, under section 265, would
revoke the exemption granted for a relevant transaction.
(5) A pre-transaction
decision request must be made in the approved form.
(6) The Commissioner
may, as often as the Commissioner thinks fit, ask a person that has made a
pre-transaction decision request for any information the Commissioner needs to
make the decision requested.
(7) The Commissioner
may refuse a pre-transaction decision request if —
[(a) deleted]
(b) the
request does not differ materially from another pre-transaction decision
request that was made previously; or
(c) a
request made by the Commissioner under subsection (6) is not satisfied.
(7A) The Commissioner
must refuse a pre-transaction decision request if the transaction to which the
request relates has been entered into.
(8) If the
Commissioner is given the information needed to make the decision requested in
a pre-transaction decision request, the Commissioner must make the decision
and give written notice of it to the person that made the request.
(9) In making a
decision requested in a pre-transaction decision request, the Commissioner may
have regard to —
(a)
information provided by the person that made the request; and
(b) any
other matter the Commissioner considers relevant.
(10) If the
Commissioner makes a decision on a pre-transaction decision request in
relation to a transaction, and the transaction is subsequently entered into,
the Commissioner is bound by the decision in respect of the transaction unless
—
(a) the
transaction, or any circumstance relating to it, differs materially from the
transaction or circumstances to which the request related; or
(b) any
information relevant to the transaction, or to any circumstance relating to
it, differs materially from the information given to the Commissioner in
relation to the request; or
(c) the
Commissioner considers that there was not a full and true disclosure to the
Commissioner of information in relation to the request.
[Section 261 amended: No. 12 of 2019 s. 122.]