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

92   Subsection 981N(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 client money reporting rules must not exceed:

(a) for an individual - 3,000 penalty units; and

(b) for a body corporate - 15,000 penalty units.