Criteria for deciding amount to be ordered

In force

To decide the amount a person may be ordered to pay under section 83(1)(b) or (f), the tribunal may consider any or all of the following—

(a)

the person’s conduct before and after the disciplinary ground concerned happened;

(b)

whether the conduct was deliberate;

(c)

the period over which the conduct happened;

(d)

the amount of financial loss caused by the disciplinary ground;

(e)

any similar past conduct of the person, including conduct happening before the commencement of this section;

(f)

whether the conduct could have been prevented;

(g)

if the person is a corporation—the extent to which the executive officers of the corporation knew or should have known of the existence of the disciplinary ground;

(h)

any action the person took to remedy the disciplinary ground including, for example, compensating persons who suffered financial loss because of it;

(i)

the extent to which the person cooperated with the commissioner to remedy the disciplinary ground and prevent future disciplinary grounds happening;

(j)

the person’s financial position;

(k)

any other relevant factor.

This Act’s bill:Explanatory memorandum

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84 Criteria for deciding amount to be ordered