S.12GC Enforcement and recovery of certain fines against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)

Act & Section

S.12GC Enforcement and recovery of certain fines against Subdivision D (Unconscionable conduct and consumer protection in relation to financial services)

Type

Procedural

Process

Enforcement and recovery of certain fines

What

Unconscionable conduct and consumer protection in relation to financial services

Observations

(1)   A person who receives a fine for an offence, pursuant to s.12GB of 12GN(5) fails to pay the fine, a court may intervene to use its recovery powers; on application of the Minister or ASIC, make an order that it become recoverable as a judgement debt.

(2)   If a person gives the court security for the debt, the court must cancel its orders.

(3)   The court may, before its order is executed, stay the order and allow a person the time to pay; if the person pays the order in the time and manner allowed, the order is taken to be discharged.

(4)   Subject to ss.7 the fine ceases to have effect upon payment of it, or if not paid in full – on compliance with the order.

(5)   The value of a day in prison is calculated at $25.00 per day for the outstanding amount of the fine.

(6)   Subject to ss.7 any period of imprisonment ordered because of ss.1 in respect of two or more fines, is to be served consecutively.

(7)   Subject to ss.8, of because of ss.1, imprisonment if ordered for 3 or more fine and the period would exceed 3 years aggregate; and the fines were imposed  within a period of 2 years and are of the same or substantially similar nature; the court must order that the order or orders cease to have effect in respect of the fines after the person has served 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 ss.8, the court may vary or revoke an order under ss.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).