Pecuniary penalty orders
482D Pecuniary penalty orders
The Supreme Court may order a person to pay a pecuniary penalty of up to $200 000 if —
a declaration of contravention by the person has been made under section 482B; and
the contravention —
materially prejudices the interests of the co‑operative or its members; or
materially prejudices the co‑operative’s ability to pay its creditors; or
is serious.
The penalty is a civil debt payable to the Registrar on behalf of the State.
The Registrar and the State may enforce the order as if it were an order made in civil proceedings against the person to recover a debt due from the person.
The debt arising from the order is taken to be a judgment debt.
[Section 482D inserted: No. 7 of 2016 s. 178.]
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