54GAmount payable under civil penalty notice

54G Amount payable under civil penalty notice (1) The amount payable under a civil penalty notice for an alleged contravention of a tier 1 civil penalty provision or tier 2 civil penalty provision is— (a) for an individual—$15 000 or a lesser amount prescribed by regulation; and (b) for a corporation—$75 000 or a lesser amount prescribed by regulation. (2) The amount payable under a civil penalty notice for an alleged contravention of a tier 3 civil penalty provision is— (a) for an individual—$7 510 or a lesser amount prescribed by regulation; and (b) for a corporation—$37 500 or a lesser amount prescribed by regulation. (3) However, the commission may decide that the amount payable under a civil penalty notice for an alleged contravention of a tier 3 civil penalty provision for a corporation is the amount mentioned in subsection (2) (a) if— (a) the corporation is not a listed corporation, or is subject to the payment only because it is a related corporation; and (b) the commission considers the lesser amount is appropriate after taking into account the following: (i) the nature of the alleged contravention; (ii) the degree of financial impact on the corporation if the higher amount were to apply; (iii) the extent to which the higher amount appears excessive in the circumstances; (iv) any other matter the commission considers relevant.

(4) In this section: listed corporation—see the Corporations Act, section 9. tier 1 civil penalty provision means a civil penalty provision to which a tier 1 civil penalty applies under schedule 5. tier 2 civil penalty provision means a civil penalty provision to which a tier 2 civil penalty applies under schedule 5. tier 3 civil penalty provision means a civil penalty provision to which a tier 3 civil penalty applies under schedule 5.