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Financial Sector (Collection of Data) Bill 2001

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2001

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

HOUSE OF REPRESENTATIVES

 

FINANCIAL SECTOR (COLLECTION OF DATA) BILL 2001

CORRECTION TO THE

EXPLANATORY MEMORANDUM



 

Clause 20 - Matters to be included in an infringement notice

Add to the end of paragraph 4.59 - The maximum amount of the fine or fines that a court could impose for an offence or offences under subclause 13(9) of this Bill is determined, in the case of a body corporate, by reference to subsection 4B(3) of the Crimes Act 1914 .

These words are included to clarify that subsection 4B(3) of the Crimes Act 1914 does apply to subclause 13(9) of the Bill, that is 50 penalty units prescribed in subclause 13(9) can be multiplied by five for corporate offenders.

Clause 22 - What happens if penalty is paid

Add to the end of paragraph 4.64 - Subclauses 22(2) and (3) will not prevent the person who pays the penalty specified in an infringement notice from being given another infringement notice in respect of, or from being prosecuted for, any further delay in performing the obligation to which the notice relates which occurs after the period of delay covered by the notice. 

These words are included to resolve an ambiguity with regard to the words “same omission” in the Bill.

 

 

(Circulated by authority of the Minister for Financial Services and Regulation,

the Hon Joe Hockey, MP)

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