Yes
a great way of revenue raising dressed up as "saving lives" In our (inner) suburb in Melbourne the standard speed limit for significant parts is 30kph (just over 18MPH) and the highest is 60kph on a major road with most of the rest 40. I regularly get passed even in 40kph zones by bicycles but for some reason they seem to be exempt

In the 911 I sometimes wonder if it is worth getting out of first gear at 40kph

We also have so called "anti hoon laws" that relate to speeding, drug or alcohol use or things like street racing or similar (even doing doughnuts in carparks) see extract:

"A first-time offender may expect that the vehicle be impounded or immobilised for a period of 30 days. However, subsequent offences will result in an increase in the duration of the impoundment or immobilisation period. A second time offender may expect to have the vehicle impounded or immobilised for between 45 days to 3 months while third time offenders may have the vehicle impounded permanently. It is important to note that people who have been caught driving 70km/h over the speed limit will automatically be classed as second time offenders."