UNCLAIMED MONEY ACT 2008 - SECT 51 Increase in penalty for concealment

UNCLAIMED MONEY ACT 2008 - SECT 51

    (1)     The amount of penalty determined under section 49 is to be increased by 20% if, after the Registrar commences an investigation into a known or suspected default by the business or trustee and before the investigation is completed, the business or trustee took steps to prevent or hinder the Registrar from becoming aware of the nature and extent of the default in whole or part.

    (2)     For the purposes of this section, a business or trustee takes steps to prevent or hinder the Registrar if the business or trustee—

        (a)     deliberately damages or destroys records to which the investigation relates that are required to be kept by this Act; or

        (b)     without reasonable excuse, refuses or fails to comply with a requirement made by the Registrar under Division 1 of Part 6; or

        (c)     hinders or obstructs an authorised officer exercising functions under Division 1 of Part 6.