Corporations Amendment (Asia Region Funds Passport) Act 2018 (61 of 2018)

Schedule 2 Amendments consequential on Chapter 8A

Insert:

Passport Rules for this jurisdiction

(1H) A Court may order a person to pay the Commonwealth a pecuniary penalty of the relevant maximum amount if:

(a) a declaration of contravention by the person has been made under section 1317E; and

(b) the contravention is of subsection 1211B(1) or (2) (complying with the Passport Rules for this jurisdiction); and

(i) materially prejudices the interests of the passport fund or its members; or

(ii) is serious.

(1J) For the purposes of subsection (1H), the relevant maximum amount is:

(a) $200,000 for an individual; or

(b) $1 million for a body corporate.