Section 243: Concessionary settlement and mitigation of penalties

1 On the petition of any person subject to administrative penalties, the Service may remit or mitigate Administrative penalties assessed under this Part assessed by an administrative settlement, if it finds that such fine, penalty, or forfeiture was incurred without willful negligence or without any intention on the part of the petitioner to defraud the revenue or to violate the law, or finds the existence of such mitigating circumstances as to justify the remission or mitigation of such penalties.

2 The Service may by regulation establish criteria for the mitigation and settlement of administrative penalties with the agreement of the party in breach and at the option of the part charged with the contravention, the Service may at any time refers a possible settlement to a higher level within the Service and no appeal may be taken from such a settlement.

3 A person subject to an administrative penalty may at any time reject a concessionary settlement offered by the Service and lodge an appeal in court under the provisions of this Act.