Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 (17 of 2019)
Schedule 1 Amendment of the Corporations Act 2001
Part 2 Application and transitional provisions
Corporations Act 2001
146 In the appropriate position in Chapter 10
Insert:
Part 10.36 - Application and transitional provisions relating to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019
1655 Definitions
In this Part:
amending Act means the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019.
commencement day means the day on which Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 commences.
1656 Application - offences
Subject to this Part, the amendments made by Schedule 1 to the amending Act apply in relation to the commission of an offence if the conduct constituting the commission of the offence occurs wholly on or after the commencement day.
1657 Application - civil penalty provisions
Subject to this Part, the amendments made by Schedule 1 to the amending Act apply in relation to the contravention of a civil penalty provision if the conduct constituting the contravention of the provision occurs wholly on or after the commencement day.
1658 Application - offence provisions repealed and substituted with conduct rules with multiple consequences
To avoid doubt, the amendments made by items 82, 86, 87, 94, 100, 101 and 102 of Schedule 1 to the amending Act apply in relation to the commission of an offence or the contravention of a civil penalty provision under the sections inserted by those items if the conduct constituting the commission of the offence or the contravention of the civil penalty provision occurs wholly on or after the commencement day.
1659 Application - infringement notices
(1) An infringement notice may be given on or after the commencement day under section 1317DAM of the Act, as inserted by item 113 of Schedule 1 to the amending Act, in relation to an alleged contravention of a provision whether the alleged contravention occurred before, on or after the commencement day.
(2) Despite the repeal of section 1313 of the Act by item 111 of Schedule 1 to the amending Act, the Act continues to apply in relation to notices given under that section before the commencement day as if:
(a) that section, and any regulations made under that section, had not been repealed; and
(b) section 1311 had not been amended.
1660 Application - definition of dishonesty
(1) The amendment of the definition of dishonesty in section 9 of the Act made by item 7 of Schedule 1 to the amending Act applies in relation to a decision whether to convict a person of an offence under this Act for which dishonesty is an element, if the conduct constituting the commission of the offence occurs wholly on or after the commencement day.
(2) The amendment of the definition of dishonesty in section 9 of the Act made by item 7 of Schedule 1 to the amending Act applies:
(a) in relation to the disqualification of a person from managing corporations under section 206B of the Act - to convictions for an offence involving dishonesty that occur on or after the commencement day; and
(b) in relation to a decision under section 913B of the Act whether to grant an Australian financial services licence - to convictions for an offence involving dishonesty whether the conviction occurs before, on or after the commencement day; and
(c) in relation to a decision under section 915B of the Act whether to suspend or cancel an Australian financial services licence - to convictions for an offence involving dishonesty whether the conviction occurs before, on or after the commencement day; and
(d) in relation to a decision under section 920A of the Act whether to make a banning order - to convictions for an offence involving dishonesty whether the conviction occurs before, on or after the commencement day; and
(e) in relation to a decision to register a person as a liquidator under section 20-20 of Schedule 2 to the Act - to decisions made on or after the commencement day (whether conviction for the offence involving dishonesty occurs before on or after the commencement day); and
(f) in relation to the obligation on a registered liquidator under section 35-1 of the Schedule 2 to the Act to lodge notice with ASIC of a conviction for an offence involving fraud or dishonesty - to convictions that occur on or after the commencement day; and
(g) in relation to a decision under section 40-25 of Schedule 2 to the Act to suspend the registration of a person as a liquidator - to convictions for an offence involving dishonesty whether the conviction occurs before, on or after the commencement day; and
(h) in relation to a decision under section 40-30 of Schedule 2 to the Act to cancel the registration of a person as a liquidator - to convictions for an offence involving dishonesty whether the conviction occurs before, on or after the commencement day; and
(i) in relation to a decision under section 40-40 of Schedule 2 to the Act to give a show cause notice - to convictions for an offence involving dishonesty whether the conviction occurs before, on or after the commencement day.