Corporations Amendment (Asia Region Funds Passport) Act 2018 (61 of 2018)
Schedule 2 Amendments consequential on Chapter 8A
Corporations Act 2001
320 After subsection 1317G(1G)
Insert:
Passport Rules for this jurisdiction
(1H) A Court may order a person to pay the Commonwealth a pecuniary penalty of the relevant maximum amount if:
(a) a declaration of contravention by the person has been made under section 1317E; and
(b) the contravention is of subsection 1211B(1) or (2) (complying with the Passport Rules for this jurisdiction); and
(c) the contravention:
(i) materially prejudices the interests of the passport fund or its members; or
(ii) is serious.
(1J) For the purposes of subsection (1H), the relevant maximum amount is:
(a) $200,000 for an individual; or
(b) $1 million for a body corporate.
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