110ALate renewal penalties

#### 110A Late renewal penalties (1) Regulations may prescribe late renewal penalties, or a method of calculating late renewal penalties, to be paid to the Commonwealth under section 80KB in respect of late renewal applications. (2) A late renewal penalty is due and payable in the manner prescribed. (3) If a late renewal penalty is not paid at the time the late renewal application is made, the application is to be taken not to have been duly made. (4) The regulations may prescribe circumstances in which the Director may, on behalf of the Commonwealth, wholly or partly waive or remit late renewal penalties that would otherwise be payable under this section.