Corporations Amendment (No. 1) Act 2010 (131 of 2010)

Schedule 1   Amendments

Corporations Act 2001

20   Schedule 3 (table items 309B to 312A)

Repeal the items, substitute:

310

Section 1041A, subsections 1041B(1), and 1041C(1), section 1041D and subsections 1041E(1), 1041F(1), 1041G(1), 1043A(1) and 1043A(2)

In the case of an individual, imprisonment for 10 years or a fine the greater of the following:

(a) 4,500 penalty units;

(b) if the court can determine the total value of the benefits that have been obtained by one or more persons and are reasonably attributable to the commission of the offence - 3 times that total value;

or both.

In the case of a body corporate, a fine the greatest of the following:

(a) 45,000 penalty units;

(b) if the court can determine the total value of the benefits that have been obtained by one or more persons and are reasonably attributable to the commission of the offence - 3 times that total value;

(c) if the court cannot determine the total value of those benefits - 10% of the body corporate's annual turnover during the 12-month period ending at the end of the month in which the body corporate committed, or began committing, the offence.


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