Independent Competition and Regulatory Commission Act 1997

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—

for an individual—$15 000 or a lesser amount prescribed by regulation; and

for a corporation—$75 000 or a lesser amount prescribed by regulation.

The amount payable under a civil penalty notice for an alleged contravention of a tier 3 civil penalty provision is—

for an individual—$7 510 or a lesser amount prescribed by regulation; and

for a corporation—$37 500 or a lesser amount prescribed by regulation.

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—

the corporation is not a listed corporation, or is subject to the payment only because it is a related corporation; and

the commission considers the lesser amount is appropriate after taking into account the following:

the nature of the alleged contravention;

the degree of financial impact on the corporation if the higher amount were to apply;

the extent to which the higher amount appears excessive in the circumstances;

any other matter the commission considers relevant.

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.