If you induced a vendor to enter into a Sales Authority by making false and misleading representations, what is the maximum financial penalty could you personally face as an individual under the Competition and Consumer Act 2010?
Under the Competition and Consumer Act 2010 (Cth) in Australia, if an individual is found to have made false or misleading representations that induced a vendor to enter into a Sales Authority, they could face significant penalties. As of my last knowledge update in October 2023, the maximum financial penalty for individuals can be up to $500,000 for each contravention of the Act.
It's important to note that penalties can vary based on the specifics of the case, and there may be additional consequences, including civil penalties and potential criminal charges depending on the severity of the conduct. For the most accurate and current information, it is advisable to consult legal professionals or the Australian Competition and Consumer Commission (ACCC).