134Access to books

134 Access to books

(1) A body corporate contravenes this subsection if:

(a) the body is the target body; and

(b) the receiving body requests the target body to give the receiving body access to all books in its possession that relate to assets or liabilities transferred under this Division; and

(c) the target body fails to comply with the request.

Fault‑based offence

(2) A person commits an offence if the person contravenes subsection (1).

Note: An individual can commit an ancillary offence that is either an offence against this subsection or an offence relating to this subsection (see Part 2.4 of the Criminal Code).

Penalty:

(a) for a body corporate—1,200 penalty units; and

(b) for an individual—imprisonment for 12 months or 120 penalty units, or both.

Civil penalty provision

(3) A person is liable to a civil penalty if the person contravenes subsection (1).

Note: An individual may be liable for an ancillary contravention of this civil penalty provision (see section 92 of the Regulatory Powers Act).

Civil penalty:

(a) for a body corporate—the greater of:

(i) 50,000 penalty units; and

(ii) if the court can determine the benefit derived and detriment avoided because of the contravention—that amount multiplied by 3; and

(b) for an individual—the greater of:

(i) 5,000 penalty units; and

(ii) if the court can determine the benefit derived and detriment avoided because of the contravention—that amount multiplied by 3.