31Civil penalty order

31 Civil penalty order

(1)  In this section, court means a court of summary jurisdiction.

(2)  If a person contravenes section 22(2) , (3) , (6) or (7) or section 23(1) , the Corporation or a person authorised in writing by the Minister may apply to the court, within 6 years after the contravention, for an order under subsection (3) .

(3)  If the court is satisfied of the matters specified in subsection (4) , the court may make one or more of the following orders:

(a) an order prohibiting the person from being an officer of the Corporation for the period specified in the order;

(b) an order that the person pay to the Minister an amount not exceeding $200 000.

(4)  Before making an order under subsection (3) , the court must be satisfied that –

(a) the person has contravened section 22(2) , (3) , (6) or (7) or section 23(1) ; and

(b) the contravention of that section –

(i) materially prejudices the interests of the Corporation; or

(ii) materially prejudices the ability of the Corporation to pay its creditors; or

(iii) is serious.

(5)  The court must not make an order under subsection (3)(a) if the court is satisfied that the person is a fit and proper person to be an officer of the Corporation despite the contravention.

(6)  The court must not make an order under subsection (3)(b) if the court or any other court has ordered the person to pay punitive damages because of the act or omission constituting the contravention.

(7)  In proceedings under this section, the court may relieve a person who has contravened , , or or from the whole or part of a liability to which the person would otherwise be subject, or that might otherwise be imposed on the person, because of the contravention if the court is satisfied that –