Section 111AU Corporations Act 2001 | Enforcing Conditions of Exemptions


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Section 111AU of the Corporations Act 2001 (Cth) is ‘Enforcing Conditions of Exemptions’ and is extracted below.

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Our criminal defence lawyers are vastly experienced in advising and representing corporations and individuals who are facing investigations for regulatory issues and proceedings for criminal offences, and our expertise in serious and complex cases means you can rest assured of receiving the most effective legal representation whatever your situation may involve.

The Legislation

Section 111AU of the Corporations Act 2001 (Cth) is Enforcing Conditions of Exemptions and reads as follows:

Enforcing conditions of exemptions

(1)  A person must not intentionally or recklessly contravene a condition to which an exemption under section 111AS or 111AT is subject.

(2)  If a person contravenes such a condition, the Court may, on the application of ASIC, order the person to comply with the condition.

The penalties

The maximum penalty for the offence of Enforcing Conditions of Exemptions is:

5 years imprisonment and/or a fine of 200 penalty units (a Commonwealth penalty unit is currently $210).

However, it should be kept in mind that maximum penalties are reserved for the most serious cases.

Your legal team will be able to advise you of the essential elements the prosecution would need to prove in order to establish the offence, whether those elements are capable of being established in your particular situation, the most effective and efficient way forward and the likely outcome.