Clause 46

by deleting paragraph (a) of subsection (1) and substituting the following paragraph:“(a)fails, neglects or refuses to comply with any notice or requirement of the Comptroller or an officer authorised by the Comptroller under section 64, 65, 65A or 65B, or a demand for information; or”;

by deleting subsection (2) and substituting the following subsection:“(2) Any person guilty of an offence under subsection (1) shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $100 for every day or part of a day during which the offence continues after conviction.”;

by deleting subsection (5) and substituting the following subsection:“(5) Except as provided under section 65B(2), it is not a defence to a charge under subsection (1) for a failure to provide any information or produce any document sought by a notice mentioned in section 65B, that the person is under a duty of secrecy in respect of that information or the contents of that document (called in this section a displaced duty of secrecy).”;

by inserting, immediately after subsection (7), the following subsection:“(7A) In subsections (5), (6) and (7) —

a reference to a notice under section 65B to provide information includes a reference to a requirement to provide information under section 65B(1)(f) and a demand for information; and

a reference to a notice under section 65B to produce a document includes a reference to a requirement to produce a document under section 65B(1)(f).”;

by deleting subsection (8) and substituting the following subsection:“(8) Any person who, in purported compliance with a notice or requirement of the Comptroller or an officer authorised by the Comptroller under section 64, 65, 65A or 65B, or with a demand for information, produces any document which contains any information, or provides any information, known to the person to be false or misleading in a material particular —

without indicating to the Comptroller or the officer that the information is false or misleading and the part that is false or misleading; and

without providing correct information to the Comptroller or the officer if the person is in possession of, or can reasonably acquire, the correct information,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.”; and

by inserting, immediately after subsection (9), the following subsection:“(10) In this section, “demand for information” means a demand by the Comptroller or an officer authorised by the Comptroller to answer a question when in attendance before the Comptroller or the officer pursuant to a notice under section 65B(3B).”.