Document ID: chunk:federal_register_of_legislation:F2024L01605:reg:17
Version: federal_register_of_legislation:F2024L01605
Segment Type: reg
Provision Reference: reg 17
Character Range: 30716–31712

17  Amount of civil penalty for certain contraventions by bodies corporate
 (1) This section has effect for the purposes of the following civil penalty provisions of this Code:
 (a) subsections 34(1) and (2);
 (b) subsections 45(2), (3) and (5);
 (c) subsection 46(2);
 (d) section 64.
 (2) The amount of the pecuniary penalty for a contravention of a civil penalty provision referred to in subsection (1) by a body corporate is the greatest of the following:
 (a) $10,000,000;
 (b) if the Court can determine the value of the benefit that the body corporate, and any body corporate related to the body corporate, has obtained directly or indirectly and that is reasonably attributable to the contravention—3 times the value of that benefit;
 (c) if the Court cannot determine the value of that benefit—10% of the adjusted turnover of the body corporate during the period of 12 months ending at the end of the month in which the contravention occurred.

Part 2—Obligation to act in good faith