Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:2_101aa
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 2 cl 101AA
Character Range: 224950–226970

101AA  Threshold for distinction between tier 2 infringement notices and tier 3 infringement notices
 (1) The requirement in this subsection is met in relation to the alleged contravention if the value of the action to which the contravention relates, determined under subsection (3), falls short of:
 (a) if the civil penalty provision is subsection 89(1):
 (i) if that action is an acquisition of an interest in Australian land, and the Australian land is residential land—$5,000,000; or
 (ii) otherwise—$275,000,000; or
 (b) if the civil penalty provision is subsection 98B(1) or (4):
 (i) if any of the core Part 3 actions mentioned in subparagraph 98B(1)(b)(ii) or 98B(4)(b)(ii) is an acquisition of an interest in Australian land, and the Australian land is residential land—$5,000,000; or
 (ii) otherwise—$275,000,000; or
 (c) if the civil penalty provision is subsection 91(1) or (2), section 92 or 92A or subsection 93(1), (4) or (7)—$275,000,000; or
 (d) otherwise—$5,000,000.
 (2) For the purposes of subsection (1), if the civil penalty provision is subsection 98B(1) or (4), treat the value of the action to which the contravention relates, determined under subsection (3) of this section, as being the sum of the values, determined under subsection (3) of this section, for each of the core Part 3 actions mentioned in subparagraph 98B(1)(b)(ii) or 98B(4)(b)(ii).
 (3) For the purposes of subsection (1), the value of the action is:
 (a) the value for the action worked out under the following table; or
 (b) if no item of the table applies to the action:
 (i) where the action is an acquisition—the value of the consideration for the acquisition; or
 (ii) otherwise—the market value of the benefit obtained by the action.

Values of actions
Item               This kind of action …                                                                                                                       that is mentioned in any of these provisions …                                          has this value …