Part 7General

Part 7—General

Pt 7 Div. 1 (Heading and ss 116AA–116AAE) inserted by No. 28/2021 s. 12.

Division 1—General enforcement

S. 116AA inserted by No. 28/2021 s. 12.

116AA Offence to give false or misleading information or documents

(1) A licensee must not give the Commission information that the licensee is required to give to the Commission under or for the purposes of this Act that the licensee knows*—*

(a) to be false or misleading in any material particular; or

(b) omits any matter or thing without which the information is misleading.

Penalty: In the case of a natural person, 120 penalty units or 12 months imprisonment;

In the case of a body corporate, 6000 penalty units.

(2) A licensee must not produce a document to the Commission that the licensee is required to produce to the Commission under or for the purposes of this Act if—

(a) the licensee knows that the document is false or misleading in a material particular; and

(b) the licensee does not indicate the respect in which the document is false or misleading.

Penalty: In the case of a natural person, 120 penalty units or 12 months imprisonment;

In the case of a body corporate, 6000 penalty units.

(3) An offence against subsection (1) or (2) is an indictable offence.

S. 116AAB inserted by No. 28/2021 s. 12.

116AAB Monetary benefits orders

(1) If a court finds a person guilty of an offence against Division 5C of Part 2 or section 116AA(1) or (2), the court may, on the application of the Commission, make an order under subsection (2).

(2) The court may order the person to pay an amount not exceeding the amount that the court is satisfied represents 3 times the amount of any monetary benefits acquired by the person, or accrued or accruing to the person, as a result of the offence.

(3) Any amounts received by the Commission pursuant to an order under subsection (2) are to be paid into the Consolidated Fund.

S. 116AAC inserted by No. 28/2021 s. 12.

116AAC Determining amount to be paid under monetary benefits order

(1) When determining an amount that the person must pay under an order made under section 116AAB(2), the court may take into account—

(a) the person's financial circumstances; and

(b) any amount submitted to the court by the Commission under subsection (2).

(2) The Commission, or a person authorised by the Commission, may submit to the court the amount the Commission considers to be a reasonable estimate of the amount of monetary benefits acquired by the person, or accrued or accruing to the person, as a result of the commission of the offence in relation to which the order under section 116AAB(2) is sought, as determined in accordance with—