Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person must give written notice to ASIC, as soon as practicable, if the person becomes aware that the person may no longer be able to meet, or has breached, an obligation under section 828C.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(2) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).
(3) If ASIC receives a notice under subsection (1), ASIC may give the Minister advice about the matter to which the notice relates.