556
CurrentPecuniary penalty orders
556 Pecuniary penalty orders
(1)
The Supreme Court may order a person to pay a pecuniary penalty of up to $200,000 if—
(a)
a declaration of contravention by the person has been made under section 554; and
(b)
the contravention—
(i)
materially prejudices the interests of the co-operative or its members; or
(ii)
materially prejudices the co-operative’s ability to pay its creditors; or
(iii)
is serious.
(2)
A pecuniary penalty ordered to be paid in this jurisdiction is to be paid and treated in accordance with the Co-operatives National Law Act of this jurisdiction.
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