54CCivil penalty amount—other regulated entities

54C Civil penalty amount—other regulated entities (1) For the purposes of section 54(1)(c), the civil penalty amount is— (a) in the case of a natural person— (i) an amount equal to 240 penalty units; or (ii) if another, lesser amount is provided for the contravention of that civil penalty requirement in accordance with section 54E, that other amount; and (b) in the case of a body corporate, an amount equal to the greater of— (i) an amount equal to 1200 penalty units or, if another, lesser amount provided for the contravention of that civil penalty requirement in accordance with section 54E, that other amount; or (ii) if the court can determine the value of any monetary benefits acquired by, or accrued or accruing to, the body corporate (or any body corporate related to the body corporate), as a result of the contravention, an amount that is 3 times the amount of the monetary benefits. (2) Subsection (1)(b)(ii) only applies in a particular case if the Commission or the person authorised by the Commission, in applying for a contravention order, requests that the provision applies in that particular case. (3) In this section, 2 or more bodies corporate are related to each other if they are related bodies corporate within the meaning of the Corporations Act. New s. 54D inserted by No. 41/2021 s. 9.