Document ID: chunk:federal_register_of_legislation:C2024A00065:clause:1_34
Version: federal_register_of_legislation:C2024A00065
Segment Type: clause
Provision Reference: sch 1 cl 34
Character Range: 47560–48309

34  At the end of section 16
Add:

Reporting nominees
 (4) A reporting nominee is liable to a civil penalty if:
 (a) the reporting nominee gives the Regulator a payment times report; and
 (b) the report is false or misleading in a material particular.
Civil penalty: 350 penalty units.
 (5) For the purposes of subsection (4), the reference in paragraph 82(5)(a) of the Regulatory Powers Act to 5 times the pecuniary penalty specified for the civil penalty provision has effect as if it were a reference to 0.6% of the total income for the person for the income year in which the contravention occurred.
Note: This subsection modifies the maximum pecuniary penalty that a body corporate can be ordered to pay for a contravention of subsection (4).