10JReporting entities must not give false or misleading notices

10J Reporting entities must not give false or misleading notices

(1) A reporting entity is liable to a civil penalty if: (a) the entity gives the Regulator a notice under subsection 10H(2); and (b) the notice is false or misleading in a material particular.

Civil penalty: 350 penalty units.

(2) For the purposes of subsection (1), the reference in paragraph 82(5)(a) of the Regulatory Powers Act to 5 times the pecuniary penalty specified for the civil penalty provision has effect as if it were a reference to 0.6% of the total income for the person for the income year in which the contravention occurred.

Note: This subsection modifies the maximum pecuniary penalty that a body corporate can be ordered to pay for a contravention of subsection (1).