SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 20 - ADMINISTRATIVE DIRECTIONS AND PENALTIES FOR CONTRAVENTIONS RELATING TO SELF MANAGED SUPERANNUATION FUNDS  

Division 3 - Administrative penalties  

SECTION 167   167   ADMINISTRATIVE PENALTY AND CIVIL PENALTY  


If:


(a) a person is liable to pay an amount by way of administrative penalty imposed by section 166 because of an act or omission of the person; and


(b) proceedings against the person are commenced for a contravention of a civil penalty provision constituted by the act or omission;

then (whether or not the proceedings are withdrawn):


(c) the person is not liable to pay the amount; and


(d) any amount paid, or applied by the Regulator, in total or partial discharge of that liability is to be refunded to the person, or applied by the Regulator in total or partial discharge of another tax-related liability of the person.

Note:

Section 8ZE of the Taxation Administration Act 1953 deals with the situation of a person against whom a criminal prosecution is instituted.




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