THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 6 - Proof and ranking of claims

Subdivision A - Admission to proof of debts and claims

SECTION 553B   INSOLVENT COMPANIES - PENALTIES AND FINES NOT GENERALLY PROVABLE  

553B(1)  [Penalties and fines not provable]  

Subject to subsection (2), penalties or fines imposed by a court in respect of an offence against a law are not admissible to proof against an insolvent company.

553B(2)  [ Proceeds of Crime Act 1987 ]  

An amount payable under a pecuniary penalty order, or an interstate pecuniary penalty order, within the meaning of the Proceeds of Crime Act 1987, is admissible to proof against an insolvent company.