Pooled Development Funds Act 1992

S 50 repealed by No 180 of 2012, s 3 and Sch 6 item 50, applicable in relation to an act or omission by a body corporate occurring on or after 11 December 2012. S 50 formerly read:

SECTION 50 CRIMINAL CONSEQUENCES OF CONTRAVENING CERTAIN PROVISIONS  
50(1)
If a PDF contravenes a provision specified in the table:

(a) the PDF is not guilty of an offence; but

(b) each officer or investment manager of the PDF who is involved in the contravention is guilty of an offence punishable, on conviction, by a penalty not exceeding the one set out in the table in relation to that provision.

Penalties for contraventions of this Act
Item	Provision	Penalty
1	Section 19 (investments not made in accordance with Division 1 of Part 4 other than section 27A)	500 penalty units
2	Section 27A	50 penalty units
3	Subsection 28(2B)	500 penalty units
4	Subsection 29(1)	500 penalty units
5	Subsection 29(2)	500 penalty units
6	Subsection 30(1)	200 penalty units
7	Subsection 32(2)	100 penalty units
8	Subsection 33(4)	100 penalty units
9	Subsection 34(3)	50 penalty units
10	Subsection 35(3)	50 penalty units
11	Subsection 41(1)	50 penalty units
12	Subsection 42(1)	50 penalty units
13	Subsection 43(4)	50 penalty units
14	Subsection 46(2)	100 penalty units

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History

S 50(1) amended by No 64 of 2000 and No 102 of 1994.

50(2)
If a company that is an eligible corporation contravenes section 49 :

(a) the company is not guilty of an offence; but

(b) each officer of the company who is involved in the contravention is guilty of an offence punishable, on conviction, by a fine not exceeding $10,000.

50(3)
For the purposes of subsections (1) and (2), a person is involved in a contravention if, and only if, the person:

(a) has aided, abetted, counselled or procured the contravention; or

(b) has induced, whether by threats or promises or otherwise, the contravention; or

(c) has been in any way, by act or omission, directly or indirectly, knowingly concerned in, or party to, the contravention; or

(d) has conspired with others to effect the contravention.

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S 50(3) amended by No 140 of 2001.

50(4)
The effect that a provision has for the purposes of this section is additional to, and does not prejudice, the effect that the provision otherwise has (for example, for the purposes of section 47 ).