Source: https://www.legislation.gov.au/Details/F2019L00392
Timestamp: 2020-07-04 22:27:30
Document Index: 440556797

Matched Legal Cases: ['art 1', 'art 2', 'art 3', 'art 4', 'art 1', 'art 9', 'art 9', 'art 9', 'art 9', 'art 9', 'art 10', 'art 2', 'art 6', 'art 6', 'art 6', 'art 3', 'art 4', 'art 4', 'art 4']

Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Regulations 2019
Details: F2019L00392
- F2019L00392
This instrument amends multiple instruments to prescribe the list of offence, civil penalty and key requirement provisions that are subject to an infringement notice regime, ensure penalties and some offences in regulations are consistent with the strengthened penalty framework inserted by the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019, update a number of cross-references and provide for contingent amendments.
F2019L00392
Part 1—Amendment of the Corporations Regulations 2001 3
Part 2—Amendment of the National Consumer Credit Protection Regulations 2010 9
Division 1—Main amendments 9
National Consumer Credit Protection Regulations 2010 9
Division 2—Amendments of penalties under civil penalty provisions 12
Division 3—Application provisions 12
Part 3—Amendment of the Insurance Contracts Regulations 2017 13
Insurance Contracts Regulations 2017 13
Part 4—Other consequential amendments 14
Corporations (Aboriginal and Torres Strait Islander) Regulations 2017 14
Fair Work (Registered Organisations) Regulations 2009 14
National Consumer Credit Protection Regulations 2010 15
This instrument is the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Regulations 2019.
(b) immediately after the commencement of Schedules 1 to 4 of the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019.
(b) immediately after the commencement of the National Consumer Credit Protection Amendment (Mandatory Comprehensive Credit Reporting) Regulations 2019.
(b) the Insurance Contracts Act 1984;
(c) the National Consumer Credit Protection Act 2009.
Part 1—Amendment of the Corporations Regulations 2001
1 Subregulation 5D.2.01(2) (penalty)
2 After subregulation 5D.2.01(2)
(2A) A person commits an offence if the person is involved in a contravention of subregulation (1) by a licensed trustee company.
3 Subregulations 5D.2.05(1) and (2) (penalty)
4 At the end of regulation 5D.2.05
(3) A person commits an offence if the person is involved in a contravention of subregulation (1) or (2) by a licensed trustee company.
5 Subregulations 5D.2.06(3), (4), (5), (7), (8) and (11) (penalty)
6 At the end of regulation 5D.2.06
Offence for involvement in contravention
(12) A person commits an offence if the person is involved in a contravention of subregulation (3), (4), (5), (7), (8) or (11) by a licensed trustee company.
7 Subregulation 5D.2.07(1) (penalty)
8 At the end of regulation 5D.2.07
(3) A person commits an offence if the person is involved in a contravention of subregulation (1) by a licensed trustee company.
9 Subregulations 5D.2.08(2), (3), (4), and (6) (penalty)
10 At the end of regulation 5D.2.08
(8) A person commits an offence if the person is involved in a contravention of subregulation (2), (3), (4), or (6) by a licensed trustee company.
11 Paragraphs 7.2.06(b) and 7.2.07(j)
Omit “subparagraph 792A(c)(i)”, substitute “subparagraph 792A(1)(c)(i)”.
12 Paragraph 7.2.16(1)(b)
Omit “paragraph 792A(a)”, substitute “paragraph 792A(1)(a)”.
13 Paragraph 7.2.16(3)(b)
14 Subregulation 7.2A.07(1) (note)
Note: See subsection 798K(2) of the Act for the maximum penalty payable.
15 Paragraphs 7.3.04(b) and 7.3.05(i)
Omit “subparagraph 821A(c)(i)”, substitute “subparagraph 821A(1)(c)(i)”.
16 Subregulation 7.6.01AB(3) (penalty)
17 Subregulations 7.6.08D(3) and (4) (penalty)
(b) for a body corporate—200 penalty units.
18 Subregulations 7.6.08E(3) and (4) (penalty)
19 Subregulation 7.7.10AF(1) (cell at table item 4, column 2)
paragraph 952E(2)(a)
20 Subregulation 7.7.10AG(1) (cell at table item 2, column 2)
21 Subregulations 7.7.20A(1) and (2) (note)
22 Subregulation 7.8.02(1)
Omit “paragraph 981C(a)”, substitute “paragraph 981C(1)(a)”.
23 Subregulation 7.8.02(1A)
24 Subregulation 7.8.02(2)
25 Subregulation 7.8.02(6)
Omit “paragraph 981C(b)”, substitute “paragraph 981C(1)(b)”.
26 Subregulation 7.8.02(7)
Omit “paragraph 981C(c)”, substitute “paragraph 981C(1)(c)”.
27 Subregulation 7.8.02(8)
Omit “paragraph 981C(d)”, substitute “paragraph 981C(1)(d)”.
28 Subregulation 7.8.05(4)
29 Subregulation 7.8.05G(1) (note)
Note: See subsection 981N(2) of the Act for the maximum penalty payable.
30 Subregulation 7.8.08(18) (penalty)
31 Subregulation 7.9.07CA(2) (note)
32 Subregulation 7.9.13(2) (penalty)
33 Regulation 7.9.14B (subsection 1019C(5) (penalty) of the Corporations Act 2001)
34 Part 9.4
35 After Part 9.4A
Part 9.4AB—Infringement notices
9.4AB.01 Prescribed offences (Act s 1317DAN)
(1) This regulation is made for the purposes of paragraph 1317DAN(c) of the Act.
(2) An alleged offence based on any of the following provisions of the Act is subject to an infringement notice:
(a) subsections 792B(1), (2), (3), (4) and (5);
(b) subsections 821B(1), (2), (3) and (4);
(c) subsections 912D(1B) and (2);
(d) subsection 1351(2).
9.4AB.02 Prescribed civil penalty provisions (Act s 1317DAN)
(1) This regulation is made for the purposes of paragraph 1317DAN(d) of the Act.
(2) The following civil penalty provisions of the Act are subject to an infringement notice:
(a) subsections 188(1) and (2);
(b) subsection 941A(3);
(c) subsections 941B(4);
(d) subsection 946A(4);
(e) section 962P;
(f) subsection 962S(1);
(g) subsections 963E(1) and (2);
(h) subsection 963G(1);
(i) section 963J;
(j) section 963K;
(k) subsection 964A(1);
(l) subsections 964D(1) and (2);
(m) subsection 964E(1);
(n) subsection 985E(1);
(o) section 985L;
(p) subsection 1012A(5);
(q) subsection 1012B(6);
(r) subsection 1012C(11);
(s) subsection 1017BA(4B).
36 After Part 9.7
Part 9.10—Fees imposed by the Corporations (Fees) Act 2001 and the Corporations (Review Fees) Act 2003
9.10.01 Penalty for failure to pay review fee on time—prescribed penalty (Act s 1364)
(1) This regulation is made for the purposes of paragraph 1364(2)(n) of the Act.
(2) The penalty for the failure to pay a review fee is:
(a) if payment is received within 1 month after the due date—$65; and
(b) if payment is not received within 1 month after the due date—$270.
Note: The date on which a service fee is due and payable is worked out under subsection 1351(3) of the Act.
review fee means a fee imposed by section 5 of the Corporations (Review Fees) Act 2003.
37 Subregulation 10.2.50(4) (penalty)
38 In the appropriate position in Chapter 10
Part 10.31—Application provisions relating to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Regulations 2019
10.31.01 Application—offences
The amendments made by items 1 to 10, items 16 to 18 and items 30, 32, 33 and 37 of Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Regulations 2019 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 of that Schedule.
39 Schedule 1 (table item 155)
40 Schedule 2 (Form 910)
Part 2—Amendment of the National Consumer Credit Protection Regulations 2010
41 Part 6‑2
Part 6‑2—Infringement notices
37 Prescribed offences
(1) This regulation is made for the purposes of paragraph 288K(1)(b) of the Act.
(2) The following provisions of the Act are subject to an infringement notice:
(a) subsection 30(3);
(c) subsection 32(2);
(d) subsection 51(3);
(e) subsection 70(2);
(f) subsection 73(6);
(g) subsection 88(3);
(h) subsection 95(4);
(i) subsection 98(4);
(j) subsection 99(4);
(k) subsection 100(5);
(l) subsection 122(2);
(m) subsection 123(6);
(n) subsection 124(6);
(o) subsection 124A(2);
(p) subsection 124B(2);
(q) subsection 133(6);
(r) subsection 133AC(3);
(s) subsection 133AD(3);
(t) subsection 133AE(3);
(u) subsection 133BC(2);
(v) subsection 133BD(2);
(w) subsection 133BH(4);
(x) subsection 133BJ(2);
(y) subsection 133CA(2);
(z) subsection 133CB(2);
(za) subsection 133CC(2);
(zb) subsection 133DB(2);
(zc) subsection 133DC(3);
(zd) subsection 133DD(3);
(ze) subsection 145(2);
(zf) subsection 146(6);
(zg) subsection 147(6);
(zh) subsection 156(6);
(zi) subsection 229(2);
(zj) subsections 32A(1) and (2) of the Code.
38 Prescribed civil penalty provisions
(1) This regulation is made for the purposes of paragraph 288K(1)(c) of the Act.
(a) subsections 114(1), (4), (5) and (6);
(b) subsections 115(1) and (2);
(c) subsection 117(1);
(e) subsection 119(1);
(f) subsection 121(1);
(g) section 128;
(h) subsection 130(1);
(i) subsection 131(1);
(j) subsections 133DE(1) and (2);
(k) subsections 137(1), (4), (5) and (6);
(l) subsections 138(1) and (2);
(m) subsection 140(1);
(n) subsection 141(1);
(o) subsection 142(1);
(p) subsection 144(1);
(q) section 151;
(r) subsection 153(1);
(s) subsection 154(2);
(t) subsection 160B(1);
(u) subsection 160C(1);
(v) subsections 160E(2) and (3);
(w) subsection 39B(1) of the Code;
(x) subsection 72(4) of the Code;
(y) subsection 177B(4) of the Code.
39 Prescribed key requirements
(1) This regulation is made for the purposes of paragraph 288K(1)(d) of the Act.
(2) The following provisions of the Act, to the extent that they relate to key requirements (within the meaning of the Code), are subject to an infringement notice:
(a) subsections 17(3), (4), (5), (6), (8), (9), (11), (15) and (15A) of the Code;
(b) subsection 23(1) of the Code;
(c) subsection 32AA(2) of the Code;
(d) subsection 34(6) of the Code;
(e) subsection 35(1) of the Code.
42 Schedule 1 (Form 3)
43 Item 2.27 of Schedule 2 (subsection 52(4) (penalty))
Criminal penalty: 6 months imprisonment.
44 Item 2.27 of Schedule 2 (subsection 52(5) (penalty))
Criminal penalty: 20 penalty units.
45 Item 2.39 of Schedule 2 (subsection 74(3) (penalty))
46 Item 2.39 of Schedule 2 (subsection 74(4) (penalty))
47 Item 2.39 of Schedule 2 (subsection 75(2) (penalty))
48 Item 2.39 of Schedule 2 (subsection 75(3) (penalty))
49 Item 2.39 of Schedule 2 (subsection 75B(2) (penalty))
50 Item 2.39 of Schedule 2 (subsection 75B(3) (penalty))
51 Item 2.39 of Schedule 2 (subsection 76(2) (penalty))
52 Item 2.39 of Schedule 2 (subsection 76(3) (penalty))
Division 2—Amendments of penalties under civil penalty provisions
53 The whole of the instrument (including the Schedules)
Civil penalty: 5,000 penalty units.
54 In the appropriate position in Part 6‑3
49F Application—offences
The amendments made by items 43 to 52 of Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Regulations 2019 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 of that Schedule.
49G Application—civil penalty provisions
The amendments made by item 53 of Schedule 1 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Regulations 2019 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 of that Schedule.
Part 3—Amendment of the Insurance Contracts Regulations 2017
Insurance Contracts Regulations 2017
55 After Part 4
Part 4A—Miscellaneous
39A Infringement notices—prescribed offences
(1) This section is made for the purposes of paragraph 75X(a) of the Act.
(2) Subsection 33C(5) of the Act is subject to an infringement notice.
Part 4—Other consequential amendments
56 Paragraph 30(b)
Omit “penalties referred to in items 116CA to 116GC in Schedule 3 to the Corporations Act”, substitute “penalties referred to in items dealing with subsection 324CA(1) to section 324CK in Schedule 3 to the Corporations Act”.
57 Subsection 3(1) (paragraph (b) of the definition of designated offence)
(b) an offence that is subject to an infringement notice under section 1317DAN of the Corporations Act 2001; or
1 After paragraph 37(2)(za)
(zaa) subsection 133CX(1);
(zab) subsection 133CY(1);
(zac) section 133CZ;
(zad) section 133CZB;
(zae) section 133CZE;
(zaf) subsection 133CZG(7);
(zag) subsection 133CZH(3);
(zah) subsection 133CZI(3);