Document ID: chunk:federal_register_of_legislation:C2020A00130:clause:1_453m
Version: federal_register_of_legislation:C2020A00130
Segment Type: clause
Provision Reference: sch 1 cl 453M
Character Range: 16498–17420

453M  Order for compensation where director involved in void transaction
 (1) Where:
 (a) a court finds a person guilty of an offence constituted by a contravention of subsection 453L(1); and
 (b) the court is satisfied that the company or another person has suffered loss or damage because of the act or omission constituting the offence;
the court may (whether or not it imposes a penalty) order the first‑mentioned person to pay compensation to the company or other person, as the case may be, of such amount as the order specifies.
Note: Section 73A defines when a court is taken to find a person guilty of an offence.
 (2) An order under subsection (1) may be enforced as if it were a judgment of the court.
 (3) The power of a court under section 1318 to relieve a person from liability as mentioned in that section extends to relieving a person from liability to be ordered under this section to pay compensation.