Australian Charities and Not-for-profits Commission Act 2012 (Cwth)

CHAPTER 7 - MISCELLANEOUS  

PART 7-3 - PENALTIES  

Division 175 - Administrative penalties  

Subdivision 175-B - Penalties for statements  

SECTION 175-30   REDUCTION OF PENALTY IF ENTITY VOLUNTARILY TELLS THE COMMISSIONER  

175-30(1)    
Reduce the amount by 20% of the base penalty amount if:

(a)    the Commissioner tells the entity that an examination is to be made of the entity ' s affairs relating to this Act; and

(b)    after that time, the entity voluntarily tells the Commissioner, in the approved form, about the false or misleading nature of the relevant statement; and

(c)    telling the Commissioner can reasonably be estimated to have saved the Commissioner a significant amount of time or significant resources in the examination.

175-30(2)    
Reduce the amount to nil if the entity voluntarily tells the Commissioner, in the approved form, about the false or misleading nature of the relevant statement before :

(a)    the day the Commissioner tells the entity that an examination is to be made of the entity ' s affairs relating to this Act; or

(b)    if the Commissioner makes a public statement requesting entities to make a voluntary disclosure by a particular earlier day about a matter that applies to its affairs - that earlier day.

175-30(3)    
If the entity voluntarily tells the Commissioner, in the approved form, about the false or misleading nature of the statement after the Commissioner tells the entity that an examination is to be conducted of the entity ' s affairs relating to this Act, the Commissioner may treat the entity as having done so before being told about the examination if the Commissioner considers it appropriate to do so in the circumstances.