Document ID: chunk:federal_register_of_legislation:C2020A00006:clause:1_55
Version: federal_register_of_legislation:C2020A00006
Segment Type: clause
Provision Reference: sch 1 cl 55
Character Range: 27806–28478

55  After subsection 588J(1)
Insert:
 (1A) If, on an application for a civil penalty order against a person for a contravention of subsection 588GAB(2) or 588GAC(2) relating to a disposition of property of a company, the Court is satisfied that:
 (a) the person contravened the subsection; and
 (b) one or more creditors of the company suffered loss or damage because of the disposition and the company's insolvency;
the Court may order the person to pay the company compensation equal to the loss or damage (whether or not the Court makes a pecuniary penalty order under section 1317G or an order under section 206C disqualifying the person from managing corporations).