(1) If the court is satisfied on the application of the Commission that a body corporate has acted in contravention of section 80A, the court may order the body corporate to pay to the Crown any pecuniary penalty that the court determines to be appropriate.
(2) The amount of any pecuniary penalty must not, in respect of each act or omission, exceed 2 times the value of any indemnity given in contravention of section 80A.
(5) Proceedings under this section may be commenced within 3 years after the matter giving rise to the contravention was discovered or ought reasonably to have been discovered. However, no proceedings under this section may be commenced 10 years or more after the matter giving rise to the contravention.
Section 80B: inserted, on 26 May 2001, by section 18 of the Commerce Amendment Act 2001 (2001 No 32).
Section 80B(3): repealed, on 14 October 2008, by section 12(2)(c) of the Commerce Amendment Act 2008 (2008 No 70).
Section 80B(4): repealed, on 14 October 2008, by section 12(2)(c) of the Commerce Amendment Act 2008 (2008 No 70).