Section 912DA — Corporations Act 2001 (Cth)

(1) If an entity starts to control, or stops controlling, a financial services licensee, the licensee must lodge a notification with ASIC:

(a) in the prescribed form; and

(b) before the end of 30 business days after the day the entity starts to control, or stops controlling, the financial services licensee.

Note: Failure to comply with this subsection is an offence: see subsection 1311(1).

(2) An offence based on subsection (1) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.

Related sections

• s 912DAB — Obligation to lodge a report—reportable situations in relation to other financial services licensees
• s 912DAC — Obligation to give notice—participants in licensed market or licensed CS facility
• s 912DAD — ASIC must publish details of certain reports
• s 912DB — Obligation to notify ASIC if licensee does not provide financial service
• s 912E — Surveillance checks by ASIC
• s 912EA — Reporting to clients affected by a reportable situation

Research how courts apply s 912DA

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.