compensation (1) Where, on an application for a civil penalty order against a
person in relation to a contravention of subsection 588G(2), the Court is
satisfied that:
- (a)
- the person committed the contravention in relation to
the incurring of a debt by a company; and
- (b)
- the debt is wholly or partly unsecured; and
- (c)
- the person to whom the debt is owed has suffered loss or damage in
relation to the debt because of the company's insolvency;
the Court may (whether or not it makes a pecuniary penalty order under
section 1317G or an order under section 206C disqualifying a person
from managing corporations) order the first-mentioned person to pay to the
company compensation equal to the amount of that loss or damage.
(2) A company's liquidator may intervene in an application for a civil
penalty order against a person in relation to a contravention of subsection
588G(2).
(3) A company's liquidator who so intervenes is entitled to be heard:
- (a)
- only if the Court is satisfied that the person committed the contravention in
relation to the incurring of a debt by that company; and
- (b)
- only on the question whether the Court should order the person to pay
compensation to the company.
Commonwealth Numbered Acts