Section 908BV — Corporations Act 2001 (Cth)

(1) ASIC may, in writing, direct a benchmark administrator licensee to give ASIC a report that:

(a) deals with specified matters; and

(b) if ASIC requires—includes an audit statement on the licensee’s report on those matters.

(2) A direction under subsection (1) must specify:

(a) a reasonable period for giving ASIC the report; and

(b) if paragraph (1)(b) applies—a person or body that is suitably qualified to prepare the audit statement.

(4) A person commits an offence if:

(a) the person is a benchmark administrator licensee; and

(b) the person is given a direction under subsection (1); and

(c) the person fails to comply with the direction.

Penalty: 100 penalty units.

(5) A direction under subsection (1) is not a legislative instrument.

Related sections

• s 908BS — Obligation to give ASIC access to licensee’s facilities
• s 908BT — ASIC’s power to give directions to licensee not complying with obligations
• s 908BU — Minister may disallow all or part of an ASIC direction etc.
• s 908BW — ASIC may assess licensee’s compliance
• s 908BWA — ASIC’s power to require expert report
• s 908BX — Basis of licences

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