49Amount of penalty

49 Amount of penalty (1) The amount of penalty payable in respect of a default is 25% of the amount payable that remains unpaid, subject to this Division. (2) The Registrar may increase the amount of penalty payable in respect of a default to 75% of the amount payable that remains unpaid if the Registrar is satisfied that the default was caused wholly or partly by the intentional disregard by the business or trustee (or a person acting on behalf of the business or trustee) of this Act. (3) The Registrar may determine that no penalty is payable in respect of a default if the Registrar is satisfied that— (a) the business or trustee (or a person acting on behalf of the business or trustee) took reasonable care to comply with this Act; or (b) the default occurred solely because of circumstances beyond the control of the business or trustee (or, if a person acted on behalf of the business or trustee, because of circumstances beyond either the person's or the business's or trustee's control) but not amounting to financial incapacity.