Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If one or more persons are liable under section 222AQA to a penalty equal to the balance payable under the agreement, the following are parallel liabilities :
(a) the liability of that person, or of each of those persons, to the penalty;
(b) the company's liability to pay that balance;
(c) liability under a judgment, so far as it is based on a liability referred to in paragraph (a) or (b).
(2) This means that if, at a particular time, an amount is paid or applied towards discharging one of the parallel liabilities, each of the others that is in existence at that time is discharged to the extent of the same amount. However, this subsection does not discharge a liability to a greater extent than the amount of the liability.
(3) If, because of subsection (2), the company's liability to pay that balance is discharged to the extent of a particular amount:
(a) the Commissioner may determine in writing how he or she would have applied the amount under subsection 222ALB(1) if it had been paid under the agreement; and
(b) if the Commissioner does so--section 222AHA has effect as if the amount had been paid under the agreement and then applied as set out in the determination.