Queensland Consolidated Acts Queensland Consolidated Acts(1) If, by the end of the day prescribed of a month (or at the discretion of the chief executive by a time not more than 7 days later than the end of the day prescribed) the amount received by the chief executive under section 317(1) from a licensee is less than the total amount the licensee is, under that subsection, required to ensure is received by the chief executive for that month—
(a) the chief executive must cause to be imposed on the licensee in question a penalty to be calculated by applying the percentage prescribed on the difference between those 2 amounts; and
(b) the amount received is to be credited as prescribed.
(2) A penalty imposed under subsection (1)(a) is due and payable, by the licensee in question, on or before the day prescribed of the month following the date on which it is imposed.
(3) The chief executive, for any reason that the chief executive considers is sufficient, may forgive or refund any penalty payable under this section.