Penalty regime for non-compliance with statutory orders now exposes companies and officers to initial and daily capped fines. Amendment establishes a penalty regime where a company and every officer in default face an initial penalty and a continuing daily fine for failure to ... Summary
Penalty regime for non-compliance with statutory orders now exposes companies and officers to initial and daily capped fines.
Amendment establishes a penalty regime where a company and every officer in default face an initial penalty and a continuing daily fine for failure to comply with orders under section 405(1) or 405(3), or for furnishing information that is incorrect or incomplete in any material respect, with continuing fines accruing after the first day and an aggregate cap on liability.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.