Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The base penalty amount under this Subdivision is worked out using this table:
Item | Column 1 If the entity is liable to a penalty under section 175 - 10 in relation to a statement that was false or misleading because of: | Column 2 the base penalty amount is: |
1 | intentional disregard of this Act by the entity or its agent | 60 penalty units |
2 | recklessness by the entity or its agent as to the operation of this Act | 40 penalty units |
3 | a failure by the entity or its agent to take reasonable care to comply with this Act | 20 penalty units |
(2) If 2 or more items in that table apply and one of them produces a greater base penalty amount than any of the others, use that item.
(3) If, apart from this subsection, the entity would have a base penalty amount because the entity or its agent treated this Act as applying in a particular way, and that way agreed with:
(a) advice given to the entity or its agent by or on behalf of the Commissioner; or
(b) general administrative practice under this Act; or
(c) a statement in a publication approved in writing by the Commissioner;
the base penalty amount is reduced to the extent that it was caused by that treatment.