Commonwealth Consolidated Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997 - SECT 49

             (1)  The Governor-General may make regulations prescribing matters:

                     (a)  required or permitted by this Act to be prescribed; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Act.

             (2)  The regulations may require the provision of financial statements, estimates or other information by overseas corporations which the Commonwealth controls (within the meaning of section 34). For this purpose, overseas corporation means a body corporate that is incorporated by or under the law of an external Territory or overseas country.

             (3)  The regulations may make provision for penalties for offences against the regulations by way of fines of up to 10 penalty units.

Note:          Section 4AA of the Crimes Act 1914 sets the current value of a penalty unit.