Section 6Part 2 — REGISTERED DIRECTORS
Registration by the Authority
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The Authority may register an applicant if satisfied that the applicant has provided to the Authority the information in the prescribed form and paid to the Authority any applicable fees that may be prescribed.
Each registered director shall, on or before the 15th January in each calendar year, provide to the Authority the information in the prescribed form and pay to the Authority the prescribed annual fee, and there shall be payable by a registered director who fails to pay the prescribed annual fee by that date, a surcharge of one-twelfth of that fee for every month or part of a month after the 15th January in each year that the fee is not paid.
If there is any change in the information provided to the Authority for the registration of a director, the registered director shall within twenty-one days of the change, inform the Authority of the change.
A registered director who acts in contravention of subsection (3) commits an offence and is liable on summary conviction to a fine of twenty thousand dollars.