Commentary on Sections Schedule 3: Register of people with significant control Part 21A: Information about people with significant control Section 790ZA: Duty to notify registrar of changes
469.Instead of updating its PSC register, during the period of an election, a company must deliver information to the registrar that would otherwise be entered in the company’s PSC register (subsection (2)). Information must be delivered as soon as reasonably practicable once the company becomes aware of it and no later than the time by which they would have been required to enter the information in their PSC register (subsection (3)).
470.Failure to do so is a summary offence committed by the company and every officer in default, punishable by fine. A daily default fine applies for continued contravention (subsections (4) and (5)).