Section 1311C — Corporations Act 2001: Penalty applicable to an offence committed by a body corporate

(1) The penalty applicable to an offence committed by a body corporate is: (a) for an offence for which a fine is the only penalty specified—the fine specified multiplied by 10; and (b) for an offence for which a term of imprisonment is the only penalty specified—the fine worked out under this section. (2) If: (a) a term of imprisonment is the only penalty specified for an offence; and (b) the term of imprisonment is less than 10 years; the fine mentioned in paragraph (1)(b) is the number of penalty units worked out using the individual fine formula, multiplied by 10. (3) If: (a) a term of imprisonment is the only penalty specified for an offence; and (b) the term of imprisonment is 10 years or more; the fine mentioned in paragraph (1)(b) is the greatest of: (c) 45,000 penalty units; and (d) if the court can determine the benefit derived and detriment avoided because of the offence—that amount multiplied by 3; and (e) 10% of the annual turnover of the body corporate for the 12-month period ending at the end of the month in which the body corporate committed, or began committing, the offence. (4) This section applies in relation to an offence committed by a body corporate unless there is a contrary intention under this Act in relation to the penalty applicable to the offence. In that case, the penalty applicable is the penalty specified for the offence. Note: The following are examples of cases in which a penalty is specified that would indicate a contrary intention: (a) subsection 1211B(3), which specifies a penalty for a body corporate; (b) the table item in Schedule 3 relating to subsection 794D(3), which specifies a penalty for each day, or part of a day, in respect of which an offence is committed; (c) a regulation made under paragraph 1364(2)(w) prescribing a penalty for a body corporate for a contravention of the regulations.