VICIn ForceAct
Unclaimed Money Act 2008
48Penalty in respect of certain defaults
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48 Penalty in respect of certain defaults
(1) If a default occurs, the business or trustee is liable to pay a penalty in addition to the amount payable that remains unpaid.
(2) A penalty imposed under this Division is in addition to interest.
(3) A penalty is not payable in respect of a default that consists of a failure to pay—
(a) interest under Division 3; or
(b) a penalty previously imposed under this Division.