Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 93E

Penalty applicable to an offence committed by a body corporate

  (1)   The penalty applicable to an offence committed by a body corporate is:

  (a)   for an offence for which a fine is the only penalty specified--the fine specified multiplied by 10; and

  (b)   for an offence for which a term of imprisonment is the only penalty specified--the fine worked out under this section.

  (2)   If:

  (a)   a term of imprisonment is the only penalty specified as the penalty; and

  (b)   the term of imprisonment is less than 10 years;

the fine mentioned in paragraph   (1)(b) is the number of penalty units worked out using the individual fine formula, multiplied by 10.

  (3)   If:

  (a)   a term of imprisonment is the only penalty specified for an offence; and

  (b)   the term of imprisonment is 10 years or more;

the fine mentioned in paragraph   (1)(b) is the greatest of:

  (c)   45,000 penalty units; and

  (d)   if the court can determine the benefit derived and detriment avoided because of the offence--that amount multiplied by 3; and

  (e)   10% of the annual turnover of the body corporate for the 12 - month period ending at the end of the month in which the body corporate committed, or began committing, the offence .

  (4)   This section applies in relation to an offence committed by a body corporate unless there is a contrary intention under this Act in relation to the penalty applicable to the offence. In that case, the penalty applicable is the penalty specified for the offence.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback