36Administration agreements

36 Administration agreements (1) Without limiting the Taxation Administration Act 1999, section 78, the commissioner may enter into an agreement (an administration agreement) with a financial institution or anyone else under which— (a) the commissioner delegates under that section functions related to the administration of the first home owner grant scheme; and (b) the financial institution or other person is required to carry out the delegated functions in accordance with stated conditions. Note Under the Taxation Administration Act 1999, s 78 the commissioner may delegate to any person any function of the commissioner under that or any other Act. (2) The conditions of an administration agreement may include conditions prescribed under the regulations. (3) If an administration agreement with a financial institution or anyone else includes a condition prescribed by regulation, the financial institution or other person must comply with the condition. Maximum penalty: 50 penalty units. (4) An offence against this section is a strict liability offence. (5) The commissioner may, at any time, revoke an administration agreement, including any delegation included in the agreement. Division 3.2 Investigations