(1) A person contravenes this subsection if:
(a) subsection 117(1) requires the person to provide the Commonwealth with financial security in accordance with section 117; and
(b) the person does not comply with the requirement.
Fault - based offence
(2) A person commits an offence if the person contravenes subsection (1).
Civil penalty
(3) A person is liable to a civil penalty if the person contravenes subsection (1).
Civil penalty: 480 penalty units.