Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 12 · General Provisions Applicable to Parts 4 to 11
267. Default penalties
Feedback & supportWhere a default penalty is provided in any section of Parts 4 to 11, any person who is convicted of an offence under Parts 4 to 11 or who has been dealt with under section 271 for an offence under Parts 4 to 11 in relation to that section shall be guilty of a further offence under this Act if the offence continues after the person is so convicted or after the person has been so dealt with and liable to an additional penalty for each day during which the offence so continues of not more than the amount expressed in the section as the amount of the default penalty or, if an amount is not so expressed, of not more than $200.
default penalty
“default penalty” means a default penalty within the meaning given by section 267;
Where any offence is committed by a person by reason of the person’s failure to comply with any provision of Parts 4 to 11 under which the person is required or directed to do anything within a particular period, that offence, for the purposes of subsection (1), is deemed to continue so long as the thing so required or directed to be done by him or her remains undone, despite such period having elapsed.
For the purposes of any provision of Parts 4 to 11 which provides that an officer of a company or corporation who is in default is guilty of an offence under Parts 4 to 11 or is liable to a penalty or punishment, the phrase “officer who defaults” or any like phrase means any officer of the company or corporation who knowingly and wilfully —
officer
“officer”, in relation to a corporation, includes —(a)a director or secretary of the corporation, or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)a liquidator of a company appointed in a voluntary winding up,but does not include —(d)a receiver who is not also a manager;(e)a receiver and manager appointed by the Court;(f)a liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed under Part 7;
is guilty of the offence; or
authorises or permits the commission of the offence.