Our compliance and enforcement powers are in the Registrar of Companies (Compliance Measures) Act 2017. They apply across the obligations we administer, including beneficial ownership.
Compliance questionnaires and information requests
Section 6 lets us require a registered entity, or a person connected with it, to provide information or documents specified in a notice. Section 7 provides the ancillary powers. Compliance questionnaires are issued under this power.
Inspections
Sections 3 and 4 provide for the inspection of registered entities. Section 8 allows site visits, including entry to premises, inspection of documents found there, and taking copies.
Notices to comply
Under section 9 we may require you to do the thing you failed to do, within a period specified in the notice, and to take specified steps to remedy the consequences of the failure.
Civil penalties and appeals
| Default fine | Not less than $100 and not more than $500 for every day of default |
| Civil penalty | Up to $250,000 for each failure |
| Representations | A period of not less than twenty-eight days after a warning notice |
| Appeal | To the Supreme Court, within twenty-eight days of the decision notice |
A default fine or civil penalty does not apply where there has been a conviction for the same matter. Obstructing us is a separate offence.
RELATED