Australia captain Steve Smith has been fined 40 percent of his match fee, while the other 10 players who were involved in the third ODI against England had to part with 20 percent of their fees, owing to an overrate offence in the game at the SCG in Sydney on January 21, which they lost by 16 runs to squander the five-match series to England.

According to an ICC statement, Australia were said to be two overs short of their target after time allowances were taken into consideration. As per ICC's code of conduct, players are fined 10 percent of their match fee for every over they are short of after the permitted time, and the captain is charged twice that amount.

Smith accepted the sanction and no formal hearing was required after match referee Ranjan Madugalle had imposed the fines. If Australia commit another overrate offence under the captaincy of Smith within the next 12 months, the skipper could face a suspension.