50Application for approval

### 50 Application for approval > > (1)  An application for an approval under this Division is to be made to the Commissioner in an approved form. > > > (2)  The Commissioner may – > > > > > > (a) grant an application for an approval; or > > > > > > > (b) refuse to grant the application. > > > (3)  [*\[Section 50 Subsection (3) inserted by No. 40 of 2006, s. 36, Applied:01 Jan 2007\]*](/view/html/inforce/2007-01-01/act-2006-040#GS36@EN) If the Commissioner has not received an application for an approval under this Division from – > > > > > > (a) a specified taxpayer or a taxpayer of a specified class referred to in [section 49(1)](#GS49@Gs1@EN) ; or > > > > > > > (b) a specified agent on behalf of a specified taxpayer or a taxpayer of a specified class referred to in [section 49(1)](#GS49@Gs1@EN)  – > > > > the Commissioner, by written notice provided to that taxpayer or agent and for the purpose of exercising his or her initiative under [section 49(3)](#GS49@Gs3@EN) , may require that taxpayer or agent to make that application, and to provide any other information specified in the notice, to the Commissioner. > > > (4)  [*\[Section 50 Subsection (4) inserted by No. 40 of 2006, s. 36, Applied:01 Jan 2007\]*](/view/html/inforce/2007-01-01/act-2006-040#GS36@EN) A taxpayer or agent must comply with a notice provided under [subsection (3)](#GS50@Gs3@EN) within the period specified in that notice or within such further period as the Commissioner allows. > > > > Penalty:  In – > > > > > > (a) the case of a body corporate, a fine not exceeding 500 penalty units; or > > > > > > > (b) any other case, a fine not exceeding 100 penalty units.