Document ID: chunk:federal_register_of_legislation:C2024C00688:section:65
Version: federal_register_of_legislation:C2024C00688
Segment Type: section
Provision Reference: s 65
Character Range: 82752–84045

65  Civil penalties for contravention of minimum stockholding obligation
 (1) Proceedings for a civil penalty order against the Australian controlling corporation of an entity for a contravention of subsection 8(1) (additional responsibility of Australian controlling corporation) (the subordinate proceedings) are stayed if proceedings are commenced or have already been commenced against the entity for a civil penalty order for the corresponding contravention of section 7 (the priority proceedings).
 (2) The subordinate proceedings may be resumed if an order is not made against the entity in the priority proceedings. Otherwise:
 (a) the subordinate proceedings are dismissed; and
 (b) costs must not be awarded in relation to the subordinate proceedings.
 (3) A relevant court must not make a civil penalty order against an entity for a contravention of section 7 if a civil penalty order has been made against the Australian controlling corporation of the entity for the corresponding contravention of subsection 8(1).
 (4) A relevant court must not make a civil penalty order against the Australian controlling corporation of an entity for a contravention of subsection 8(1) if a civil penalty order has been made against the entity for the corresponding contravention of section 7.