Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5B - REGULATION OF FINANCIAL BENCHMARKS  

Division 3 - Financial benchmark rules and compelled financial benchmark rules  

Subdivision C - Compliance with each set of rules etc.  

SECTION 908CG   ALTERNATIVES TO CIVIL PROCEEDINGS  

908CG(1)  
The regulations may provide for a person who is alleged to have contravened subsection 908CF(1) to do one or more of the following as an alternative to civil proceedings:


(a) pay a penalty to the Commonwealth;


(b) undertake or institute remedial measures (including education programs);


(c) accept sanctions other than the payment of a penalty to the Commonwealth.

908CG(2)  


The penalty payable under regulations made under paragraph (1)(a) in relation to an alleged contravention of a provision of the financial benchmark rules or the compelled financial benchmark rules must not exceed:


(a) for an individual - 1,110 penalty units; and


(b) for a body corporate - 5,550 penalty units.


 

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