Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) The penalty payable for an alleged contravention of a client money reporting rule is the amount determined by ASIC (which may be nil), subject to subsection 981N(2) of the Act .
Note: See subsection 981N(2) of the Act for the maximum penalty payable.
(2) If a client money reporting infringement notice relates to more than one alleged contravention, the total penalty payable under the infringement notice is the sum of the penalties (if any) payable for the alleged contraventions.