Commonwealth Numbered Acts

CUSTOMS SECURITIES (PENALTIES) ACT 1981 No. 46 of 1981 - SECT 4

4. Where -

   (a)  a tender furnished by a person in accordance with a call for tenders
        made under a scheme under Part XV of the Customs Act 1901 has been
        accepted; and

   (b)  the person refuses, or fails, when required by a Collector under
        section 42 of that Act to do so, to give a security for payment of any
        penalty in connection with the relevant Customs undertaking that the
        person may become liable to pay to the Commonwealth under the Customs
        Undertakings (Penalties) Act 1981 , there is payable by that person to
        the Commonwealth, by way of penalty, an amount equal to the
        prescribed percentage of the value of the goods to which that
        undertaking relates.