Foreign Acquisitions and Takeovers Act 1975

PART 5 - OFFENCES AND CIVIL PENALTIES  

Division 4 - Miscellaneous  

Subdivision B - Liability of officers of corporations  

SECTION 102   LIABILITY OF OFFICERS OF CORPORATIONS AUTHORISING OR PERMITTING CONTRAVENTIONS  

Offences authorised or permitted by officers

102(1)    
A person commits an offence if:

(a) the person is an officer of a corporation; and

(b) the corporation is convicted of an offence against this Act; and

(c) the person authorised or permitted the commission of the offence by the corporation.

Note: An officer may also be liable to an offence as a result of Part 2.4 of the Criminal Code (extensions of criminal responsibility).

Contraventions of civil penalty provisions authorised or permitted by officers

102(2)    
An officer of a corporation is liable to a civil penalty if:

(a) a civil penalty order under the Regulatory Powers Act is made against the corporation in relation to a contravention of a civil penalty provision of this Act; and

(b) the officer authorised or permitted the contravention of the civil penalty provision by the corporation.

Note: An officer may also be liable to a civil penalty as a result of section 92 of the Regulatory Powers Act (ancillary contravention of civil penalty provisions).

Maximum penalty

102(3)    
The maximum penalty for a contravention of subsection (1) or (2) is the maximum penalty that would apply if the officer had committed the offence mentioned in paragraph (1)(b) or contravened the civil penalty provision mentioned in paragraph (2)(a).