Document ID: chunk:federal_register_of_legislation:C2024C00490:section:235:p2
Version: federal_register_of_legislation:C2024C00490
Segment Type: section
Provision Reference: s 235 (pt 2/2)
Character Range: 333770–334872

due and payable, the first person entered into a scheme; and
 (c) having regard to:
 (i) the manner in which the scheme was entered into; and
 (ii) the form and substance of the scheme, including any legal rights and obligations involved in the scheme and the economic and commercial substance of the scheme; and
 (iii) the timing of the scheme;
  it would be reasonable to conclude that the first person entered into the scheme for the sole or dominant purpose of securing or achieving the result, either generally or for a limited period, that, in the event that the body corporate or trust were to become liable to pay the penalty, the body corporate or trust:
 (iv) will be unable; or
 (v) will be likely to be unable; or
 (vi) will continue to be unable; or
 (vii) will be likely to continue to be unable;
  to pay the penalty.
Penalty: Imprisonment for 3 years or 850 penalty units, or both.
 (6) For the purposes of subsection (5), it is immaterial whether the body corporate or the trustee of the trust is:
 (a) the first person; or
 (b) a party to the scheme.

Part 23—Enforceable undertakings