65Civil penalties for contravention of minimum stockholding obligation

65 Civil penalties for contravention of minimum stockholding obligation

(1) Proceedings for a civil penalty order against the Australian controlling corporation of an entity for a contravention of subsection 8(1) (additional responsibility of Australian controlling corporation) (the subordinate proceedings) are stayed if proceedings are commenced or have already been commenced against the entity for a civil penalty order for the corresponding contravention of section 7 (the priority proceedings). (2) The subordinate proceedings may be resumed if an order is not made against the entity in the priority proceedings. Otherwise: (a) the subordinate proceedings are dismissed; and (b) costs must not be awarded in relation to the subordinate proceedings. (3) A relevant court must not make a civil penalty order against an entity for a contravention of section 7 if a civil penalty order has been made against the Australian controlling corporation of the entity for the corresponding contravention of subsection 8(1). (4) A relevant court must not make a civil penalty order against the Australian controlling corporation of an entity for a contravention of subsection 8(1) if a civil penalty order has been made against the entity for the corresponding contravention of section 7.