eligible proceedings:

(a)

means proceedings for a contravention of a civil penalty provision (including proceedings under section 588M, 588W or 1317H of the Corporations Law of this jurisdiction); and

(b)

does not include proceedings for an offence (except so far as the proceedings relate to the question whether the court should make an order under section 588K or 1317H of that Law).

(2)

If:

(a)

eligible proceedings are brought against a person; and

(a)

in the proceedings it appears to the court that the person has, or may have, contravened a civil penalty provision but that:

(i)

the person has acted honestly; and

(ii)

having regard to all the circumstances of the case (including, where applicable, those connected with the person's appointment as an officer of a corporation or of a Part 5.7 body), the person ought fairly to be excused for the contravention;

the court may relieve the person either wholly or partly from a liability to which the person would otherwise be subject, or that might otherwise be imposed on the person, because of the contravention.

(3)

In determining under subsection (2) whether a person ought fairly to be excused for a contravention of section 588G, the matters to which regard is to be had include, but are not limited to:

(a)

any action the person took with a view to appointing an administrator of the company or Part 5.7 body; and

(b)

when that action was taken; and

(c)

the results of that action.

(4)

If a person thinks that eligible proceedings will or may be begun against them, they may apply to the Court for relief.

(5)

On an application under subsection (4), the Court may grant relief under subsection (2) as if the eligible proceedings had been begun in the Court.

(6)

For the purposes of subsection (2) as applying for the purposes of a case tried by a judge with a jury:

(a)

a reference in that subsection to the court is a reference to the judge; and

(b)

the relief that may be granted includes withdrawing the case in whole or in part from the jury and directing judgment to be entered for the defendant on such terms as to costs as the judge thinks appropriate.

(7)

Nothing in this section limits, or is limited by, section 1318.