(2) The holder
must, unless the holder has a reasonable excuse, do the following on or before
the end of the first year—
(a) pay the administering authority the
appropriate annual fee, other than in a circumstance prescribed under a
regulation for this paragraph; and
(b) give the authority an annual return in
the approved form.
Penalty—
Maximum penalty—100 penalty units.
(3) The administering authority may recover, as a debt, a fee required to be
paid under this section that has not been paid.
(4) This section does not
affect the application of section 316 for the holder or the
transitional authority for any period other than the first year of the
authority.