CORPORATIONS ACT 2001 - SECT 553B Insolvent companies--penalties and fines not generally provable
CORPORATIONS ACT 2001 - SECT 553B
Insolvent companies--penalties and fines not generally provable(1) Subject to subsection (2), penalties or fines imposed by a court in respect of an offence against a law are not admissible to proof against an insolvent company.
(2) An amount payable under a pecuniary penalty order, or an
interstate pecuniary penalty order, within the meaning of the
Proceeds of Crime Act 1987 , is admissible to proof against an insolvent
company.