Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:5_34
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 5 cl 34
Character Range: 354622–355167

34  At the end of section 286‑75 in Schedule 1
Add:

 (5) Subsection (6) applies if:
 (a) an entity is liable to an administrative penalty under subsection (1) or (2A) as the *superannuation provider in relation to a *self managed superannuation fund; and
 (b) the entity is a body corporate.

 (6) The directors of the body corporate at the time it becomes liable to the penalty are jointly and severally liable to pay the amount of the *tax‑related liability in respect of the penalty.

Note: See section 265‑45 for rules on joint liability.