Penalty immunity for voluntary disclosure: no initiation of penalty proceedings where disclosure, tax payment and cooperation occur. Direction that tax officers shall not initiate penalty proceedings for concealment or inaccuracy or related failure penalties for assessment years up to and including 1985-86 where, before detection, the person voluntarily made a full and true disclosure within the specified disclosure window, paid the tax on the disclosed income by the specified cut-off, and cooperated in any assessment enquiry; the order took effect on 17 February 1986.