Document ID: chunk:federal_register_of_legislation:F2023L00956:reg:5
Version: federal_register_of_legislation:F2023L00956
Segment Type: reg
Provision Reference: reg 5
Character Range: 2916–3685

5  Modifications to the Act
  For the purposes of section 370-5 in Schedule 1 to the Act, relevant provisions of the Act are modified to permit the Commissioner to remit the general interest charge, shortfall interest charge or an administrative penalty, as applicable:
            (a) in relation to:
               (i) an entity; or
               (ii) one or more entities in a relevant class; and
            (b) whether or not the charge or penalty:
               (i) has become due and payable; or
               (ii) may become due and payable in the future.
           Note: Subsection 298-20(1) in Schedule 1 to the Act is only modified to the extent that it permits the Commissioner to remit penalties arising under section 286-75 in Schedule 1 to the Act.