sec.601Annual fee and return for first year of transitional period

### sec.601 Annual fee and return for first year of transitional period This section applies to the holder of a transitional authority, instead of section 316, for the first year of the transitional period. The holder must, unless the holder has a reasonable excuse, do the following on or before the end of the first year— pay the administering authority the appropriate annual fee, other than in a circumstance prescribed under a regulation for this paragraph; and give the authority an annual return in the approved form. Maximum penalty—100 penalty units. The administering authority may recover, as a debt, a fee required to be paid under this section that has not been paid. This section does not affect the application of section 316 for the holder or the transitional authority for any period other than the first year of the authority. s 601 ins 2000 No. 64 s 52 (sec.601-ssec.1) This section applies to the holder of a transitional authority, instead of section 316, for the first year of the transitional period. (sec.601-ssec.2) The holder must, unless the holder has a reasonable excuse, do the following on or before the end of the first year— pay the administering authority the appropriate annual fee, other than in a circumstance prescribed under a regulation for this paragraph; and give the authority an annual return in the approved form. Maximum penalty—100 penalty units. (sec.601-ssec.3) The administering authority may recover, as a debt, a fee required to be paid under this section that has not been paid. (sec.601-ssec.4) This section does not affect the application of section 316 for the holder or the transitional authority for any period other than the first year of the authority. - (a) pay the administering authority the appropriate annual fee, other than in a circumstance prescribed under a regulation for this paragraph; and - (b) give the authority an annual return in the approved form.