385. Certificate as to shareholding

Question 1

386. Penalties

Answer 1

General overview
[386.01] Section 386 provides for the penalties that apply if a foreign company fails to comply with the provisions of Division 2 of Part XI of the Act, and the provision for which the company has failed to comply with does not expressly provide for a penalty. Under s 386, every officer of the company who is in default, and every authorised representative of the company who knowingly and wilfully authorises or permits the default, will also be liable to the penalties specified in s 386. The penalties provided for in s 386 are a fine not exceeding $1,000 and a default penalty.