Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.5B - REGULATION OF FINANCIAL BENCHMARKS  

Division 3 - Financial benchmark rules and compelled financial benchmark rules  

Subdivision C - Compliance with each set of rules etc.  

SECTION 908CG   ALTERNATIVES TO CIVIL PROCEEDINGS  

908CG(1)    
The regulations may provide for a person who is alleged to have contravened subsection 908CF(1) to do one or more of the following as an alternative to civil proceedings:

(a) pay a penalty to the Commonwealth;

(b) undertake or institute remedial measures (including education programs);

(c) accept sanctions other than the payment of a penalty to the Commonwealth.

908CG(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.