Document ID: chunk:federal_register_of_legislation:C2018A00118:clause:1_21
Version: federal_register_of_legislation:C2018A00118
Segment Type: clause
Provision Reference: sch 1 cl 21
Character Range: 10777–12147

21  After subsection 185C(4A)
Insert:
 (4B) The Minister may, by legislative instrument, determine the following:
 (a) a percentage for the purposes of paragraph (4)(e) (which may exceed 100%);
 (b) an amount for the purposes of the definition of low income debtor amount in subsection (5).
 (4C) This subsection applies to the debtor if:
 (a) the amount worked out using the formula under paragraph (4)(e) (expressed as a percentage) exceeds the percentage determined in an instrument under subsection (4B); and
 (b) the proposed administrator gives to the debtor a certificate signed by the proposed administrator stating that, having regard to:
 (i) the circumstances in existence at the time when the debtor's statement of affairs was signed by the debtor; and
 (ii) any other relevant matters;
  the proposed administrator is satisfied that the debtor is likely to be able to discharge the obligations created by the agreement as and when they fall due.
 (4D) A person commits an offence of strict liability if:
 (a) the person gives a certificate under paragraph (4C)(b); and
 (b) before giving the certificate, the person did not:
 (i) make reasonable inquiries about the debtor's financial situation; or
 (ii) take reasonable steps to verify the debtor's financial situation.
Note: See also section 277B (about infringement notices).
Penalty: 60 penalty units.