Document ID: chunk:federal_register_of_legislation:C2013A00120:clause:1_29
Version: federal_register_of_legislation:C2013A00120
Segment Type: clause
Provision Reference: sch 1 cl 29
Character Range: 9501–10710

29  After subsection 50‑25(1)
Insert:
 (1A) You contravene this subsection if:
 (a) you are a *registered tax (financial) adviser; and
 (b) you employ or use the services of an entity to provide *tax (financial) advice services on your behalf; and
 (c) you know, or ought reasonably to know, that:
 (i) the entity is not a registered tax (financial) adviser but was previously a registered tax (financial) adviser; or
 (ii) the entity is not a registered tax (financial) adviser but was previously a *registered tax agent; or
 (iii) the entity is not a registered tax agent but was previously a registered tax agent; or
 (iv) the entity is not a registered tax agent but was previously a registered tax (financial) adviser; and
 (d) you know, or ought reasonably to know, that the entity's registration was terminated within the period of 1 year before you first employed, or first used the services of, the entity.
Civil penalty:
 (a) for an individual—250 penalty units; and
 (b) for a body corporate—1,250 penalty units.
Note: Subdivision 50‑C of this Act and Subdivision 298‑B in Schedule 1 to the Taxation Administration Act 1953 determine the procedure for obtaining a civil penalty order against you.