Australian Capital Territory Numbered Acts

FINANCIAL INSTITUTIONS (SUPERVISORY AUTHORITY) ACT 1992 (NO. 29 OF 1992) - SECT 23

23. (1) If—

        (a)     a defined person has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the Registrar; and

        (b)     the interest could conflict with the proper performance of the Registrar's functions in relation to that matter;

the defined person shall immediately inform the Minister accordingly in writing.

Penalty: $5,000 or imprisonment for 6 months, or both.

(2) It is a defence to a prosecution for an offence under subsection (1) if it is established that the relevant defined person—

        (a)     was not aware of the relevant interest; or

        (b)     could not reasonably have been aware of the relevant potential for conflict.