s.80Penalty for breach of section 80B
80
Section 80Part 4 — Management and Administration of Companies and Associations

Penalty for breach of section 80B

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The Registrar —
may impose a penalty of five hundred dollars on a c ompany designated under section 80 , if the company breaches the provisions of secti on 80B ; and
shall within ten days of the date of the imposition of the penalty, inform the company u pon which the penalty has been imposed, of the reasons for the imposition of the penalty.
A company, upon which a penalty is imposed pursuant to subsection (1), which disputes the imposition of the penalty may appeal to the Court for review of the Regi strar ’ s decision to impose the penalty.
A dispute in relation to the penalty imposed pursuant to subsection (1) shall not be in respect of the amount of the penalty imposed and is limited to a dispute in relation to the grounds upon which the penalty i s imposed.
Notwithstanding subsection (1), if a company is in breach of section 80B —
in resp ect of more than one change in the person who owns, controls or directs a company and —
the changes occurred within a sixty day period; and
the Registrar is notified of the changes on the same day, the applicable penalty for the breach shall be that specified in subsection (1), irrespective of the number of changes notified to the Registrar; and
in respect of a person who owns, controls or directs five or more companies, the applicable aggregate penalty in respect of the companies to which th e breach relates shall not exceed the sum of two thousand five hundred dollars, which shall be equally apportioned between and paid by such companies.
In addition to the penalty under subsection (1), where the Registrar is satisfied that a breach of se ctio n 80B has been knowingly and wilfully authorised or permitted —
every company to which the br each relates shall incur a penalty of one thousand dollars; and
every person who owns, controls or directs the company to which the breach relates shall incur a penalty of one thousand dollars and a further penalty of one hundred dollars for every day during which the default continues. Contracts

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