Section 126 - General disciplines related to penalty.

Minor breach penalty standards: discretion to avoid penalties, hearing rights, and mitigation for voluntary disclosure and specified breach basis.

Penalties under the Act should not be imposed for minor breaches or easily rectifiable documentation errors made without fraud or gross negligence; penalties must be commensurate with the facts and not apply to cases where a fixed sum or fixed percentage is prescribed. No penalty may be imposed without giving the person an opportunity of being heard, the penalty order must specify the breach and applicable provision, and voluntary pre-discovery disclosure may be considered as a mitigating factor.