Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:11_70
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 11 cl 70
Character Range: 280639–281228

70  At the end of section 222AOD
Add:

 (2) If:
 (a) after the benefit day, a person becomes, or again becomes, a director of the company at a time when section 222AOBA has not yet been complied with in relation to the benefit or benefits provided on the benefit day; and
 (b) at the end of 14 days after the person becomes a director, that section has still not been complied with in relation to that benefit or those benefits;
the person is liable to pay to the Commissioner, by way of penalty, an amount equal to the unpaid amount of the liability referred to in subsection 222AOC(2).