(1) For the penalty at the foot of section 14(1) of the Principal Act substitute —
"Penalty: In the case of an individual, 100 penalty units;
In the case of a body corporate, 500 penalty units.".
(2) For section 14(5) of the Principal Act and the note at the foot of that subsection substitute —
"(5) To avoid doubt, for the purposes of section 215, subsection (1) imposes a requirement on a permission holder who is liable to pay a levy to be registered under this Part.
Note
Under section 215 the regulator may suspend or cancel the permission of a permission holder who contravenes a requirement applying to the permission holder under this Part.".