386AH. Duty of company and foreign company to keep information up-to-date

Question 1

386AH. Duty of company and foreign company to keep information up-to-date

Answer 1

General overview
[386AH.01] Section 386AH must be read with s 386AI in respect of the company’s or foreign company’s duty to give notice to the registrable controllers when it knows or has reasonable grounds to believe that a relevant change has occurred in the particulars of the registrable controller(s).

Question 2

Controllers to confirm change

Answer 2

[386AH.02] After the company or foreign company has given notice to the controllers under subsection (1), it is the controllers’ duty to confirm whether or not the change has occurred, and if the change has occurred, to state the date of change and provide particulars of the change: s 386AH(1)(a) and (b).

Question 3

“relevant change”

Answer 3

[386AH.03] A “relevant change” occurs when a person ceases to be a registrable controller(s); or when any other change occurs as a result of incorrect or incomplete information in the particulars of the registrable controller(s) as stated in the register of controllers.