(1) Where a security
bond is held in an AFI, the Commissioner may require the AFI to give to the
Commissioner such information as the Commissioner requires in relation to an
account in which the security bond is held, including information as to the
balances of and amounts of interest paid on that account.
(2) A requirement
under subsection (1) —
(a) must
be given by notice in writing to the AFI; and
(b) must
specify the time at or within which the information is to be given; and
(c) may,
by its terms, require that the information be —
(i)
given in writing; and
(ii)
certified as correct by a person who is registered as an
auditor, or taken to be registered as an auditor, under the Corporations Act
2001 (Commonwealth) Part 9.2 and is specified in the requirement; and
(iii)
given at or sent or delivered to any place specified in
the requirement; and
(iv)
sent or delivered by any means specified in the
requirement; and
(v)
given on oath or affirmation or by statutory declaration;
and
(d) must
state that the AFI is required under this Act to give the information.
(3) A person must not,
without reasonable excuse, refuse or fail to comply with a requirement under
subsection (1).
Penalty for this subsection: a fine of $3 000.
(4) A person must not
give information in response to a requirement under subsection (1) that the
person knows is false or misleading in a material particular.
Penalty for this subsection: a fine of $3 000.
(5) It is a defence in
proceedings for an offence against subsection (3) for the person to show that
—
(a) the
notice under subsection (2)(a) did not state that the person was required
under this Act to give the information; or
(b) the
time specified in the requirement did not give the person sufficient notice to
enable compliance with the requirement.
(6) Where a person is
required to give information under subsection (1), the person cannot refuse to
comply with that requirement on the ground that the information may tend to
incriminate the person or render the person liable to any penalty.
(7) Despite subsection
(6), information given under this section is not admissible in evidence in any
proceedings against the person other than proceedings in respect of an offence
against subsection (4).
[Section 95 inserted: No. 60 of 2011 s. 86;
amended: No. 3 of 2019 s. 25.]