Section 553B — Corporations Act 2001 (Cth)

(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.

Related sections

• s 553A — Member cannot prove debt unless contributions paid
• s 553AA — Selling shareholder cannot prove debt unless documents given
• s 553AB — Superannuation contribution debts not admissible to proof
• s 553C — Insolvent companies—mutual credit and set‑off
• s 553D — Debts or claims may be proved formally or informally
• s 553E — Application of Bankruptcy Act to winding up of insolvent company

Research how courts apply s 553B

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.