155Scheme participant to notify Scheme Regulator of individual liable use

#### 155 Scheme participant to notify Scheme Regulator of individual liable use 155 Scheme participant to notify Scheme Regulator of individual liable use > > (1) A scheme participant must, in the form approved by the Scheme Regulator, notify the Scheme Regulator of the scheme participant’s individual liable use for a compliance period by— > > > > > (a) 30 September in the compliance period, or > > > > > (b) a later day notified by the Scheme Regulator on its website before 30 September. > > > > Maximum penalty (subclause (1))— > > > > > (a) for a corporation—250 penalty units, or > > > > > (b) for an individual—100 penalty units. > > > (2) If the scheme participant fails to notify the Scheme Regulator of the scheme participant’s individual liable use in accordance with subclause (1), the Scheme Regulator must calculate the scheme participant’s individual liable use for the compliance period in accordance with the regulations. > > > (3) The Scheme Regulator’s calculation is taken to be the scheme participant’s individual liable use.