I mean, what would happen is simply that Facebook would shutdown operations in Australia (Making Facebook Australia declare bankruptcy), pay whatever couple mil

I mean, what would happen is simply that Facebook would shutdown operations in Australia (Making Facebook Australia declare bankruptcy), pay whatever couple millions is in Facebook Australia's coffers, and the rest of the fine would simply go unpaid. It's not like Australia can fine a foreign company - they can only fine the local branch of the company. There's exactly no way for facebook to pay a fine that's equal to 7 times its annual revenue...