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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12GC

Enforcement and recovery of certain fines

  (1)   If a person on whom a fine has been imposed for an offence against section   12GB or subsection   12GN(5) defaults in payment of the fine, a Court may:

  (a)   exercise any power that the Court has apart from this section with respect to the enforcement and recovery of fines imposed by the Court; or

  (b)   make an order, on the application of the Minister or ASIC, declaring that the fine is to have effect, and may be enforced, as if it were a judgment debt under a judgment of the Court.

  (2)   If a person in relation to whom an order is made under subsection   (1) in respect of a fine gives security for the payment of the fine, the Court must cancel the order in respect of the fine.

  (3)   If the Court makes an order in relation to a person in respect of a fine, the Court may, at any time before the order is executed in respect of the fine, allow the person a specified time in which to pay the fine or allow the person to pay the fine by specified instalments, and, in that case:

  (a)   the order must not be executed unless the person fails to pay the fine within that time or fails to pay an instalment at or before the time when it becomes payable, as the case may be; and

  (b)   if the person pays the fine within that time or pays all the instalments, as the case may be, the order is taken to have been discharged in respect of the fine.

  (4)   Subject to subsection   (7), an order under subsection   (1) in respect of a fine ceases to have effect:

  (a)   on payment of the fine; or

  (b)   if the fine is not paid--on full compliance with the order.

  (5)   The term of a sentence of imprisonment imposed by an order under a law of a State or Territory applied by section   15A of the Crimes Act 1914 in respect of a fine must be calculated at the rate of one day's imprisonment for each $25 of the amount of the fine that is from time to time unpaid.

  (6)   Subject to subsection   (7), if a person is required to serve periods of imprisonment under an order or orders under subsection   (1) in respect of 2 or more fines, those periods of imprisonment must be served consecutively.

  (7)   Subject to subsection   (8), if:

  (a)   a person would, but for this subsection, be required under an order or orders under subsection   (1) in respect of 3 or more fines to serve periods of imprisonment in respect of those fines exceeding in the aggregate 3 years; and

  (b)   those fines were imposed (whether or not in the same proceedings) for offences constituted by contraventions that occurred within a period of 2 years, being contraventions that appear to the Court to have been of the same nature or a substantially similar nature;

the Court must, by order, declare that the order or orders are to cease to have effect in respect of those fines after the person has served an aggregate of 3 years' imprisonment in respect of those fines.

  (8)   If subsection   (7) would, but for this subsection, apply to a person with respect to offences committed by the person within 2 or more overlapping periods of 2 years, the Court must make an order under that subsection with respect to one only of those periods, being whichever period would give the person the maximum benefit from the application of that subsection.

  (9)   For the purposes of subsection   (8), the Court may vary or revoke an order made under subsection   (7).

  (10)   Paragraphs 15A(1)(b), (c) and (d) of the Crimes Act 1914 do not apply with respect to fines referred to in subsection   (1).



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