The Principal Act is amended by the insertion of the following section after section 24:

"24A.

(1) A person (or the person's care representative, if any) who is the subject of an application for State support or who is provided with financial support or a person who is a family successor shall give notice in writing to the Executive of any material change in circumstances not later than 20 working days after the material change in circumstances comes to the knowledge of the person.

(2) A person who, without reasonable excuse, contravenes subsection (1) is guilty of an offence and is liable on summary conviction to a class D fine.

(3) A person who in compliance or purported compliance with this section knowingly, or recklessly, gives the Executive information which is false or misleading in a material particular is guilty of an offence and is liable on summary conviction to a class A fine or imprisonment for a term not exceeding 3 months or both.

(4) In this section, 'material change in circumstances' means, in relation to a family successor -

(a) any change in the circumstances of the family successor which may result in the occurrence of a repayment event,

(b) any change affecting the particular family asset in relation to which the family successor was appointed which may result in the occurrence of a repayment event, or