Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 (17 of 2019)

Schedule 1   Amendment of the Corporations Act 2001

Part 1   Amendments

Corporations Act 2001

71   Subsection 908CG(2)

Repeal the subsection, substitute:

(2) The penalty payable under regulations made under paragraph (1)(a) in relation to an alleged contravention of a provision of the financial benchmark rules or the compelled financial benchmark rules must not exceed:

(a) for an individual - 1,110 penalty units; and

(b) for a body corporate - 5,550 penalty units.