Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:1_1229f
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 1 cl 1229F
Character Range: 129971–131874

1229F  Compensation orders—State and Territory laws

Compensation for penalties incurred etc.
 (1) A Court may on application under subsection (5) order a person to compensate a CCIV for loss or damage suffered by the CCIV if:
 (a) the CCIV contravened, or allegedly contravened, a provision covered by subsection (2); and
 (b) the loss or damage is:
 (i) a pecuniary penalty to which the CCIV is liable in respect of the contravention or alleged contravention; or
 (ii) an amount paid by the CCIV in settlement of proceedings in respect of the contravention or alleged contravention; and
 (c) the person was the corporate director of the CCIV at the time of the contravention or alleged contravention; and
 (d) the exception in subsection (3) does not apply.
The order must specify the amount of the compensation.

State and Territory offences and civil penalty provisions
 (2) A provision of a law of a State or Territory is covered by this subsection if a contravention of the provision is an offence, or subject to a civil penalty.

Exception where liquidator etc. acting
 (3) Subsection (1) does not apply if the conduct constituting the contravention or alleged contravention was engaged in solely as a result of an exercise of powers by:
 (a) a liquidator or provisional liquidator of a sub‑fund of the CCIV; or
 (b) a receiver, or receiver and manager, of the property of a sub‑fund of the CCIV; or
 (c) a trustee or other person administering a compromise or arrangement made between the CCIV and someone else.

Recovery of damage
 (4) A compensation order may be enforced as if it were a judgment of the Court.

Who may apply
 (5) An application for a compensation order under this section may be made by any of the following:
 (a) ASIC;
 (b) a member of the CCIV;
 (c) the CCIV.

Other laws not affected
 (6) This section does not affect any liability that a person has under any other law.