Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:1_95a
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 1 cl 95A
Character Range: 138943–139710

95A  Taking action while prohibited by this Act
 (1) A person must not take an action relating to a residential land acquisition when prohibited by paragraph 79A(3)(b) or subsection 79A(4).
 (2) A person who contravenes subsection (1) is liable to a civil penalty.

Penalty
 (3) The maximum penalty for the contravention is the greatest of the following:
 (a) the amount of the capital gain that was made or would be made on the disposal of the interest in the relevant residential land;
 (b) 25% of the consideration for the residential land acquisition;
 (c) 25% of the market value of the interest in the relevant residential land.
Note 1: Consideration is defined by the regulations (see section 4).
Note 2: For how to work out the capital gain, see section 98.