Heading: substituted, on 14 October 2008, by section 15 of the Commerce Amendment Act 2008 (2008 No 70).
(1) The court may, on application by the Commission, order any person to pay a pecuniary penalty to the Crown if the court is satisfied that the person—
(a) has contravened any information disclosure requirement (as defined in section 52C); or
(b) has attempted to contravene any such requirement; or
(c) has aided, abetted, counselled, or procured any other person to contravene any such requirement; or
(d) has induced, or attempted to induce, any other person, whether by threats or promises or otherwise, to contravene any such requirement; or
(e) has been in any way, directly or indirectly, knowingly concerned in, or party to, the contravention by any other person of any such requirement; or
(f) has conspired with any other person to contravene any such requirement.
(2) In subsection (1) and section 86B, a reference to contravening an information disclosure requirement includes all or any of the following:
(a) failing to disclose information required to be disclosed:
(b) failing to disclose information in the form or within the time required:
(c) disclosing information under an information disclosure requirement that is false or misleading.
(3) The amount of pecuniary penalty must not, in respect of each act or omission, exceed $500,000 in the case of an individual, or $5,000,000 in the case of a body corporate.
(4) In determining the amount of pecuniary penalty, the court must have regard to all relevant matters, including—
(a) the nature and extent of the contravention; and
(b) the circumstances in which the contravention took place (including whether the contravention was intentional, inadvertent, or caused by negligence); and
(c) whether the person has previously been found by the court in proceedings under this Part to have engaged in similar conduct.
(5) A supplier may not be liable to more than 1 pecuniary penalty in respect of the same conduct.
(6) Proceedings under this section may be commenced at any time within 3 years after the contravention occurred.
Section 86: substituted, on 14 October 2008, by section 15 of the Commerce Amendment Act 2008 (2008 No 70).