Reading about ASIC civil penalties. in Corp ACT 1317G where it discusses the amounts / maximums, It says the maximum amount is $200,000 for an individual and $1M for a body corporate.
Is this maximum PER failure, for example you failed to provide an SOA to 50 clients or 100 or whatever. Does the ACT allow act to apply for civil penalties on a PER failure amount or is the maximum the maximum regardless of the number of times it happened?
Under s 1317G a person or body corporate may be liable to pay a pecuniary penalty up to the maximum amount per each individual declaration of contravention. For example, in ASIC v Vizard, the defendant was fined for three separate breaches, each with a penalty of $130k.