Section 588FGAD — Corporations Act 2001 (Cth)

Enforcement of order for payment generally

(1) An amount payable by a person to a company under an order made under paragraph 588FGAA(3)(b) is recoverable by the company as a debt by action against the person in a court of competent jurisdiction.

Court order for payment if person convicted of offence

(2) If a court convicts a person of an offence based on section 588FGAC relating to a contravention by the person or someone else of an order made under paragraph 588FGAA(3)(b), the court may (in addition to imposing a penalty on the person for the offence) order the person to pay the company an amount not exceeding the amount involved in the contravention.

Complying with order for payment by transferring property

(3) A person ordered under paragraph 588FGAA(3)(b) to pay a company the value of any property may comply with the order by transferring the property to the company.

Related sections

• s 588FGAA — ASIC may order undoing of effect of creditor‑defeating dispositions by company being wound up
• s 588FGAB — Content and copies of orders
• s 588FGAC — Compliance with orders generally
• s 588FGAE — Court may set aside order by ASIC
• s 588FGA — Directors to indemnify Commissioner of Taxation if certain payments set aside
• s 588FGB — Defences in proceedings under section 588FGA

Research how courts apply s 588FGAD

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