Notifiable Events. (a) The Other Party must notify the Commonwealth immediately if: (i) the Other Party breaches a provision of the Biosecurity Law; (ii) the Other Party breaches a provision of a State or Territory law that relates to food safety; (iii) FICA Food imported by the Other Party breaches an Applicable Standard or poses a risk to human health; (iv) the Other Party being a corporation, there is any change in the direct or indirect beneficial ownership or control of the Other Party; (v) the Other Party ceases to carry on business; (vi) the Other Party ceases to be able to pay its debts as they become due; (vii) there is a change to the suitability status for the Other Party, including their associate’s where the Other Party ought to reasonably know of the associate’s changed status; (viii) the Other Party enters into liquidation or has a controller or managing controller or liquidator or administrator appointed; (ix) the Other Party being a natural person is declared bankrupt or assigns his or her estate for the benefit of creditors; (x) where the Other Party is a partnership, any step is taken to dissolve that partnership; or (xi) Staff in management and control for the Other Party have an adverse change to their suitability status.
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Sources: Food Import Compliance Agreement, Food Import Compliance Agreement, Food Import Compliance Agreement