Section 908CG — Corporations Act 2001: Alternatives to civil proceedings

(1) The regulations may provide for a person who is alleged to have contravened subsection 908CF(1) to do one or more of the following as an alternative to civil proceedings: (a) pay a penalty to the Commonwealth; (b) undertake or institute remedial measures (including education programs); (c) accept sanctions other than the payment of a penalty to the Commonwealth. (2) The penalty payable under regulations made under paragraph (1)(a) in relation to an alleged contravention of a provision of the financial benchmark rules or the compelled financial benchmark rules must not exceed: (a) for an individual—1,110 penalty units; and (b) for a body corporate—5,550 penalty units.