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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 588K
Criminal court may order compensation
If:
- (a)
- a court finds a person guilty of an offence under subsection 588G(3)
in relation to the incurring of a debt by a company; and
- (b)
- the court is satisfied that:
- (i)
- the debt is wholly or partly unsecured; and
- (ii)
- 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 imposes a penalty) order the first-mentioned
person to pay to the company compensation equal to the amount of that loss or
damage.
- Note: Section 73A defines when a court is taken to find a person guilty
of an offence.
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