Insurance Act 1973

Within 6 years of a person contravening a civil penalty provision, APRA may apply, on behalf of the Commonwealth, to the Federal Court for an order that the person pay the Commonwealth a pecuniary penalty.

If the Court is satisfied that the person has contravened a civil penalty provision, the Court may order the person to pay to the Commonwealth for each contravention the pecuniary penalty that the Court determines is appropriate (but not more than the relevant amount specified for the provision).

In determining the pecuniary penalty, the Court must have regard to all relevant matters, including:

the nature and extent of the contravention; and

the nature and extent of any loss or damage suffered as a result of the contravention; and

the circumstances in which the contravention took place; and

whether the person has previously been found by the Court in proceedings under this Act to have engaged in any similar conduct.

If conduct constitutes a contravention of 2 or more civil penalty provisions, proceedings may be instituted under this Act against a person in relation to the contravention of any one or more of those provisions. However, the person is not liable to more than one pecuniary penalty under this clause in respect of the same conduct.