Penalty framework for failure to furnish required reports and for supplying inaccurate reporting, with escalating enforcement measures. Section 271GB establishes penalties for reporting entities under section 286: escalating daily penalties for failure to furnish reports and daily penalties for failure to produce requested information or documents; higher daily penalties apply if default continues after service of an order. The prescribed authority may also direct a fixed penalty where a reporting entity provides inaccurate information-whether known at filing, discovered later but not corrected within the prescribed correction period, or supplied in response to a notice under section 286(6).
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty framework for failure to furnish required reports and for supplying inaccurate reporting, with escalating enforcement measures.
Section 271GB establishes penalties for reporting entities under section 286: escalating daily penalties for failure to furnish reports and daily penalties for failure to produce requested information or documents; higher daily penalties apply if default continues after service of an order. The prescribed authority may also direct a fixed penalty where a reporting entity provides inaccurate information-whether known at filing, discovered later but not corrected within the prescribed correction period, or supplied in response to a notice under section 286(6).
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.