PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 594 Regulation may impose civil penalties

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 594

594 Regulation may impose civil penalties

(1) This section applies if a regulation provides for a person to make an election about the time and manner, or amount, of payment of petroleum royalty to the State.

(2) To deter exploitation of the provision, the regulation may impose a civil penalty—

(a) for contravention of a prescribed requirement; or

(b) in other prescribed circumstances.

(3) The amount of the civil penalty must be a prescribed amount or a prescribed percentage of petroleum royalty payable.

(4) The regulation may include provision for the revenue commissioner to remit the whole or part of the civil penalty.

(5) For the Taxation Administration Act 2001 , section 59 , a civil penalty is declared to be a penalty tax.