In Australian Securities and Investments Commission v Healey (No 2) [2011] FCA 1003 Federal Court Judge Middleton decided the penalties arising from his decision in ASIC v Healey as follows:

• The CEO Scott has been ordered to pay to the Commonwealth a penalty in the amount of $30,000 plus a share of costs;
• the CFO Romano George Nenna is disqualified from managing corporations for a period of two years from 4.30pm on 10 October 2011;
• the applications for relief for liability by the six non-executive directors of Centro were denied but they avoided any penalty other than court declarations and orders for payment of costs.

Judge Middleton said:

Whilst the Court has taken many factors into account, very much at the forefront of my consideration has been the issue of general deterrence. In my view, the orders go far enough to indicate the Court’s disapproval of the actions of each of the defendants, and to satisfy the requirements of the principle of general deterrence. Any additional penalties are not necessary to facilitate the future adherence to the standard of corporate behaviour found to be required by the Court in this proceeding. What the Court has attempted to do is to recognise the seriousness of the contraventions, but at the same time take into account the circumstances in which the contraventions occurred, the overall conduct of the defendants, and the impact of the penalties imposed on these particular defendants. These factors militate very strongly against more excessive penalties. To achieve this balance is in the public interest; to impose greater penalties in the circumstances of this proceeding would not bring about a greater benefit for society or the corporate world, and would otherwise be unfair and inappropriate.