407. General penalty provisions

Question 1

407. General penalty provisions

Answer 1

General overview
[407.01] Section 407 prescribes the penalties to be meted out in respect of an offence under the Act for which the penalty or punishment is not mentioned. In such cases, the penalty is a fine not exceeding $1,000: s 407(2). It also provides for miscellaneous matters like the service of summons issued for an offence committed by an officer of the company or by any person: see subsections (3) and (4).

Question 2

Contravention of the Act

Answer 2

[407.02] Section 407(1) is a catch-all provision to enforce the Act by making it an offence for a person who does not do anything which is required by the Act to do, or does anything which the Act forbids him to do, or otherwise contravenes or fails to comply with the Act. Read with subsection (2), the penalty is a fine not exceeding $1,000.