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Notice of information
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19. (1) Where the Minister is of the opinion that further information is required in order to review a transaction under this Act, the Minister may, at any time after commencing a review of the transaction, issue a notice in writing (in this Act referred to as a “notice of information”) to a party to the transaction in accordance with this section.
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(2) A notice of information shall specify—
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(a) the information, or class of information, that the Minister requires from the party to which it is issued, and
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(b) a period within which the party on which it is served shall comply with it, which period shall—
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(i) be not less than 30 days, and
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(ii) be reasonable having regard to the nature of the requirement, the context in which the information is requested and the circumstances of the person of whom the request is made.
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(3) An undertaking to which a notice of information is issued shall provide the information, or class of information, required in the notice to the Minister within the period specified under subsection (2)(b).
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(4) Where the party providing information under subsection (3) is an undertaking, an officer (where the undertaking is a body corporate), partner (where the undertaking is a partnership) or any individual in control (in the case of any other form of undertaking) of the undertaking shall certify in writing to the Minister that, to the best of that person’s knowledge and belief, the undertaking has complied with a notice of information under this section.
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(5) Subject to subsection (6), the following shall be guilty of an offence:
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(a) an undertaking that fails to comply with subsection (3);
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(b) a person who, in purported compliance with this section, provides the Minister with information that the person knows to be false in a material particular, or is reckless as to whether or not it is false in a material particular.
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(6) A person shall not be required under this section to provide to the Minister—
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(a) an admission that the person committed an offence, or
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(b) information that is legally privileged.
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(7) Information provided in response to a notice of information shall be in such form as the Minister may specify.
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