CORPORATIONS ACT 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.4 - OFFENCES  

Division 2 - Offences generally  

SECTION 1311B   PENALTY APPLICABLE TO AN OFFENCE COMMITTED BY AN INDIVIDUAL  

1311B(1)  
The penalty applicable to an offence committed by an individual is:

(a) for an offence for which a fine is the only penalty specified - the fine specified; and

(b) for an offence for which a term of imprisonment is the only penalty specified - either the term of imprisonment, the fine worked out under this section, or both.

1311B(2)  
If:

(a) a term of imprisonment is the only penalty specified for an offence; and

(b) the term of imprisonment is less than 10 years;

the fine mentioned in paragraph (1)(b) is the number of penalty units worked out using the individual fine formula.

1311B(3)  
The individual fine formula is:

Term of imprisonment, expressed in months

×

10

1311B(4)  
If:

(a) a term of imprisonment is the only penalty specified for an offence; and

(b) the term of imprisonment is 10 years or more;

the fine mentioned in paragraph (1)(b) is the greater of:

(c) 4,500 penalty units; and

(d) if the court can determine the benefit derived and detriment avoided because of the offence - that amount multiplied by 3.

1311B(5)  
This section applies in relation to an offence committed by an individual unless there is a contrary intention under this Act in relation to the penalty applicable to the offence. In that case, the penalty applicable is the penalty specified for the offence.

Note: The following are examples of cases in which a penalty is specified that would indicate a contrary intention:

(a) the table item in Schedule 3 relating to subsection 794D(3) , which specifies a penalty for each day, or part of a day, in respect of which an offence is committed;

(b) a regulation made under paragraph 1364(2)(w) prescribing a penalty for an individual for a contravention of the regulations.