Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_441
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 441
Character Range: 915736–916498

441  After subsection 1317G(1)
Insert:

Financial services civil penalty provisions

 (1A) A Court may order a person to pay the Commonwealth a pecuniary penalty of up to $200,000 if:
 (a) a declaration of contravention by the person has been made under section 1317E; and
 (b) the contravention is of a financial services civil penalty provision; and
 (c) the contravention:
 (i) materially prejudices the interests of acquirers or disposers of the relevant financial products; or
 (ii) materially prejudices the issuer of the relevant financial products or, if the issuer is a corporation or scheme, the members of that corporation or scheme; or
 (iii) is serious.

Note: The following heading to subsection 1317G(1) is inserted "Penalty a civil debt etc.".