Overseas Investment Regulations 2005

32 Administrative penalty for retrospective consent

• (1) For the purposes of section 53 of the Act, the administrative penalty that the regulator may require an applicant for a retrospective consent to pay is an amount that is not more than $20,000.

  (2) In determining the amount of the administrative penalty under subclause (1), the regulator must consider whether requiring the applicant to pay that amount would be unduly harsh or oppressive given—

  • (a) the value of the consideration for the asset that was acquired under the relevant overseas investment transaction; or

  • (b) the nature of, and the reasons for, the retrospective consent.